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Nifty

Nifty opened with an upward gap and remained lackluster within narrow trading range throughout the day. Nifty closed at 17152 with a gain of 44 points. On the daily chart the index has formed a small Bearish candle with shadows on either side indicating indecisiveness amongst participants regarding the direction. The chart pattern suggests that if Nifty crosses and sustains above 17220 level it would witness buying which would lead the index towards 17300-17350 levels. Important Supports for the day is around 17100 However if index sustains below 17100 then it may witness profit booking which would take the index towards 17000-16900 levels.

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

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