If index crosses above 17600 level it would witness pullback rally - Jainam Share Consultants
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Nifty
Nifty opened with an upward gap but witnessed selling from the opening tick to end near the day's low. Nifty closed at 17466 with a loss of 45 points. On the daily chart index has formed a small bearish candle forming lower High-Low compare to previous session and has closed below previous session's low indicating negative bias. The chart pattern suggests that if Nifty breaks and sustains below 17420 level it would witness selling which would lead the index towards 17370-17300 levels. However if index crosses above 17600 level it would witness pullback rally which would take the index towards 17700-17770.
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