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Nifty

Nifty opened on a negative note and witnessed extreme volatility on eitherside for most part of the session. However later hour buy ing momentum pulled index higher to end near day's high. Nifty closed at 23406 with a loss of 78 points. On the daily chart the index has formed a Bearish candle with long lower shadow indicating buying support at lower levels. The chart pattern suggests that if Nifty crosses and sustains above 23460 level it would witness buying which would lead the index towards 23550-23670 levels. Important Supports for the day is around 23300 However if index sustains below 23300 then it may witness profit booking which would take the index towards 23260- 23200 levels.

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