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Nifty

Nifty opened with downward gap and extended its down move making day low around 15710 levels however buy ing support at lowe r l eve ls recovered all the earlier losses to close in positive territory. Nifty closed at 15850 with a gain of 18 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 15900 level it would witness buying which would lead the index towards 16000-16200 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 15600-15500 levels.

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

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