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Daily Technical View on Nifty

* Nifty registered a fresh all time high of 25433 today, by soaring 1.89% or 470 points, to close at 25388.

* NSE cash market volumes were higher by 14% as compared to yesterday. Stocks in Asia rose Thursday as a tech-fuelled rally on Wall Street spread across the region.

* Nifty Midcap 100 and Small cap 100 indices gained by 1.19% and 1.01% respectively.

* Advancing shares outnumbered the declining shares where advance decline ratio stood at 1.46 on BSE.

* By surpassing the previous swing high of 25333, Nifty has negated the bearish implication of the engulfing candlestick pattern formed on the week ended 6th Sep 2024.

* Bank Nifty surpassed the previous swing high of 51750 in the intra day session and closed on strong wicket.

* Next resistance for Nifty is seen at 25525, which happens to be Fibonacci extension levels derived from recent swings in the index.

* Support for the index has shifted up at 25130.

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