However if index breaks below 17250 level it would witness selling which would take the index towards 17100-17000 - Jainam Share Consultants
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Nifty
Nifty opened on a flat note and witnessed profit booking in initial half however buying momentum at lower levels pulled index higher to close in positive territory . Nifty closed at 17186 with a gain of 171 points. On the daily chart index has formed a bullish candle however it has continue to form lower High-Low compare to previous session indicating negative sign. The chart pattern suggests that if Nifty crosses and sustains above 17350 level it would witness buying which would lead the index towards 17430- 17500 levels. However if index breaks below 17250 level it would witness selling which would take the index towards 17100-17000.
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