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Nifty

* Nifty opened the week at made a open of 23796.90 high of 24226.70 lowtheweekat23460.45 and week close at 24004.75. Thus, Nifty closed the week withagainof 191.35points on weekly basis.

* On the weekly chart, Nifty has formed a Bullish candle with shadows oneithersideindicating indecisiveness amongst participants regarding the direction. Theoverall tradingrange for index for coming week would be 24200.00 - 23450.00, either sidebreakoutwilllead the trend.

* On the daily chart, Nifty opened with a upwardgap but experiencedsellingfromthehigher level and close near day low . The chart pattern suggests that, If Niftycrossesandsustains above 24250 level it would witness buying which would lead theindextowards24500 -24600 levels. However if index breaks below 23500 level it wouldwitnesssellingwhich would take the index towards 23300 - 23200.

Banknifty

* Banknifty opened the week at 51255.35 made a high of 51979.75 lowof 50485.05andclosed the week at 50988.80. Thus, Banknifty close the week with a loss of 322.50pointson weekly basis.

* On the weekly chart, the index has formed bearish candle with Upper shadowindicatingResistance at higher levels. The overall trading range for Banknifty wouldbe52000-50500 either side breakout will lead the trend.

* On the daily chart, Banknifty opened with a downwardgap and experiencedsellingfromthe opeing tick and close near day low . The chart pattern suggests that, If Bankniftycrosses and sustains above 51800 level it would witness buying which wouldleadtheindextowards 52300 - 52800 levels. However if index breaks below 50800 level it wouldwitnessselling which would take the index toward 50000 - 49800.

* Support : 50800 - 50000 - 49800

* Resistance : 51800 - 52300 - 52800

* Sensex opened the week at 78637.58 made a high of 80072.99 lowof 77560.79andclosethe week at 79223.11. Thus, Sensex close the week with a gain of 524.04 pointsonweeklybasis

* On the weekly chart,Sensex has formed a Bullish candle with shadows oneithersideindicating indecisiveness amongst participants regarding the direction. Theoverall tradingrange for Sensex would be 80200 - 77500 either side breakout will leadthetrend.

* On the daily chart, Sensex opened with a upwardgap but experiencedsellingfromtheopening level and close in the neagtive . The chart pattern suggests that, If Sensexcrossesand sustains above 80100 level it would witness buying which wouldleadtheindextowards 80500 - 81200 levels. However if index breaks below 79100 level it wouldwitnessselling which would take the index toward 78600 - 77900.

* Support : 79100 - 78600 - 77900

* Resistance : 80100 - 80500- 81200

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