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Nifty

Nifty opened on a flat note and witnessed sideways movement in for most part of the day. However buying momentum in the last hour pulled index higher to end on a positive note. Nifty closed at 18197 with a gain of 92 points. On the daily chart index has formed a bearish candle however it remained restricted within previous session's High-Low range indicating absence of strength on either side. The chart pattern suggests that if Nifty breaks and sustains below 18080 level it would witness selling which would lead the index towards 18000-17900 levels. However if index crosses above 18270 level it would witness pullback rally which would take the index towards 18350-18400.

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

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