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Nifty takes a breather near 25450 zone
Nifty overall witnessed some profit booking during the session to Jose some 100 points taking a breather after the long winning streak having 25250 zone as the important support. BankNifty after having witnessed a decent pullback took a halt and shed some gains to end near the 55450 zone with blas still maintained positive. The market breadth was overall flat with the advance decline indicating a neutral ratio at close

Market Forecast
Nifty daily range 25200-25500
Nifty, after resisting near the 25450 zone in the previous session, witnessed some profit booking overall to end the day in the red after a long streak of winning sessions gaining more than 1000 points from the low made near 24400 zone. The overall bias is still maintained positive with the 25250-zone positioned as the important and crucial support which needs to be sustained as of now. On the upside, a decisive breach above 25500 level shall trigger for another fresh round of momentum which can retest the previous peak zone of 26277 level in the coming days
BankNifty, witnessed some profit booking after forming a lower top pattern on the daily chart to end the session near 55450 zone with overall bias maintained positive. The index would have the important 50EMA at 55150 zone as the near-term support which needs to be sustained, whereas on the upside, a decisive breach above 56200 zone shall trigger for fresh upward move in the coming days to retest the previous peak zone of 57628 levels.
The support for the day is seen at 25200 levels, while the resistance is seen at 25500 levels. BankNifty would have the daily range of 55000-56000 levels

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