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NIFTY TECHNICAL VIEW

Nifty opened with a flat note but witnessed selling momentum in initial hours. However, it has remained lackluster within narrowtradingrangethroughout the session.. Nifty closed at 25327 with a loss of 97 points. On the daily chart the index has formed a Bearish candle withlonglowershadow indicating buying support at lower levels. The chart pattern suggests that if Nifty crosses and sustains above 25450 level it wouldwitness buying which would lead the index towards 25500-25600 levels. Important Supports for the day is around 25280 However if indexsustains below 25280 then it may witness profit booking which would take the index towards 25200-25150 levels.

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