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Nifty

Nifty opened with an upward gap but witnessed selling from the opening tick to end negative. Nifty closed at 18253 with a gain of 9 points. On the daily chart the index has formed a small Bearish candle with lower shadow indicating buying support at lower levels. The chart pattern suggests that if Nifty crosses and sustains above 18300 level it would witness buying which would lead the index towards 18300-18400 levels. However if index breaks below 18000 level it would witness selling which would take the index towards 18150-18000.

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

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