Index crosses above 17870 level it would witness pullback rally which would take the index towards 17950- 18000 - Jainam Share Consultants
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Nifty
Nifty opened on a flat note but selling led the index downwards to end in red. Nifty closed at 17765 with a loss of 89 points. On the daily chart index has formed a bearish candle however it remained restricted within previous session's High-Low range indicating absence of strength on either side. The chart pattern suggests that if Nifty breaks and sustains below 17800 level it would witness selling which would lead the index towards 17700- 17600 levels. However if index crosses above 17870 level it would witness pullback rally which would take the index towards 17950- 18000.
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