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You might be able to get away with keeping some shrooms and some other soft corals, but it would be "iffy". Coralline algae should grow with that light, but it will be slow.
Perhaps someone else will have a more definitive answer for you.
i agree with biggen. if you want alot of corals in the tank go with a corallife 20" 96 watt pc fixture. that way you will be able to keep anything you want.
kyle