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Nifty

Nifty opened with an upward gap and witnessed selling for most part of the session. However last hour pullback action pulled index higher to close on positive note.. Nifty closed at 23689 with a loss of 19 points. On the daily chart the index has formed a Bearish candle with long lower shadow indicating buying support at lower levels. The chart pattern suggests that if Nifty crosses and sustains above 23750 level it would witness buying which would lead the index towards 23800-23900 levels. Important Supports for the day is around 23500 However if index sustains below 23500 then it may witness profit booking which would take the index towards 23400-23300 levels.

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