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6/12/2021 10:31:10 AM | Source: Jainam Share Consultants
Nifty opened on a positive note and extended buying momentum - Jainam Share Consultants
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Nifty

Nifty opened on a positive note and extended buying momentum in the first half however selling in the second half led the index lower to close near day's low. Nifty closed at 17197 with a loss of 205 points. On the daily chart the index has formed a long Bearish candle with either side long shadows indicating extreme volatility at higher levels. The chart pattern suggests that if Nifty crosses and sustains above 17500 level it would witness buying which would lead the index towards 17 6 0 0 -1 7 6 5 0 l evels. Important Supports for the day is around 17180 However if index sustains below 17180 then it may witness profit booking which would take the index towards 17000-16930 levels.

 

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