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Nifty

Nifty opened with an upward gap and traded with extreme volatility on either side to end on a negative note. Nifty closed at 25405withalossof 48 points. On the daily chart index has formed a bearish candle however it remained restricted within previous session's High-Lowrangeindicating absence of strength on eitherside. The chart pattern suggests that if Nifty crosses and sustains above 25608 level it wouldwitnessbuying which would lead the index towards 25700-25750 levels. Important Supports for the day is around 25380 However if indexsustainsbelow 25380 then it may witness profit booking which would take the index towards 25300-25250 levels.

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SEBI Registration No.: INZ000198735, Research Analyst: INH000006448, PMS: INP000006785