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Nifty

Nifty opened with an upward gap but witnessed selling from the opening tick to end negative. Nifty closed at 26175 with a loss of 41 points. On the daily chart the index has formed a small Bearish candle with shadows on either side indicating indecisiveness amongst participants regarding the direction. The chart pattern suggests that if Nifty crosses and sustains above 26300 level it would witness buying which would lead the index towards 26350-26400 levels. Important Supports for the day is around 26000 However if index sustains below 26000 then it may witness profit booking which would take the index towards 25900-25800 levels.

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