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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 19611 with a gain of 36 points. On the daily chart the index has formed a small Bullish candle carrying long lower shadow indicating buying support at lower levels. The chart pattern suggests that if Nifty breaks and sustains below 19490 level it would witness selling which would lead the index towards 19450-19350 levels. However if index crosses above 19640 level it would witness pullback rally which would take the index towards 19700-19750.

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

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