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Nifty

Nifty opened on a flat note but buying led the index upwards to end in the green. Nifty closed at 18016 with a gain of 86 points. On the daily chart the index has formed a small bullish candle forming higher High-Low formation compare to previous session indicating positive bias. The chart pattern suggests that if Nifty breaks and sustains below 17850 level it would witness selling which would lead the index towards 17800-17700 levels. However if index crosses above 18050 level it would witness pullback rally which would take the index towards 18200-18300.

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

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