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Daily Technical View on Nifty

* After a subdued start, Nifty registered a recovery of more than 130 points from the First five minute’s low.

* However, Nifty failed to surpass yesterday’s high of 25130 and reversed south in the second half.

* From the day’s high of 25113, Nifty nosedived 228 points and registered a low of 24885.

* Nifty finally ended the day with the losses of 122 points or 0.49% at 24918 levels.

* NSE cash market volumes remained same as yesterday.

* Nifty Midcap 100 and Small cap 100 indices underperformed the Nifty where they fell by 0.8% each.

* Declining shares outnumbered the advancing shares where advance decline ratio stood at 0.69 on BSE

* Recent swing low 24753 is expected offer short term support to the Nifty.

* On the higher side 25200 becomes strong resistance in Nifty and unless that is taken out, traders should remain cautious.

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