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Nifty

Nifty opened on a positive note and extended buying momentum in the first half however selling in the second half led the index lower to close near day's low. Nifty closed at 15722 with a loss of 27 points. On the daily chart the index has formed a Bearish candle with a long upper shadow indicating selling at higher levelsThe chart pattern suggests that if Nifty crosses and sustains above 15915 level it would witness buying which would lead the index towards 15950-16000 levels. Important Supports for the day is around 15700 However if index sustains below 15700 then it may witness profit booking which would take the index towards 15650- 15600 levels.

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

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