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Nifty

Nifty opened on a flat note and witnessed selling momentum for most part of the day. However buying momentum in the last hour pulled index higher to end on a flat note. Nifty closed at 19646 with a loss of 14 points. On the daily chart the index has formed a Doji candlestick formation indicating indecisiveness amongst market participants regarding the direction. The chart pattern suggests that if Nifty crosses and sustains above 19700 level it would witness buying which would lead the index towards 1980 0 -1 9 9 0 0 l evels. Important Supports for the day is around 19560 However if index sustains below 19560 then it may witness profit booking which would take the index towards 19500-19400 levels.

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

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