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Nifty

Nifty opened with a downward gap however buying momentum at lower levels pulled index higher to end near day's high. Nifty closed at 18643 with a loss of 58 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 18660 level it would witness buying which would lead the index towards 18730-18800 levels. However if index breaks below 18580 level it would witness selling which would take the index towards 18550-18500.

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

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