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Nifty

Nifty opened with an upward gap and witnessed selling pressure in the first hour. However buying momentum in second half pulled index higher to close near the day's high. Nifty closed at 24541 with a gain of 397 points. On the daily chart the index has formed a long Bullish candle forming higher High- Low formation indi cating positive bias. The chart pattern suggests that if Nifty crosses and sustains above 24570 level it would witness buying which would lead the index towards 24680-24850 levels. Important Supports for the day is around 24500 However if index sustains below 24500 then it may witness profit booking which would take the index towards 24450-24400 levels.

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