Nifty opened on a positive note and extended buying momentum in the first half - 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 16215 with a loss of 51 points. On the daily chart the index has formed a long Bearish candle forming lower High-Low compare to previous session indicating negative bias. The chart pattern suggests that if Nifty breaks and sustains below 16185 level it would witness selling which would lead the index towards 16100- 16000 levels. However if index crosses above 16415 level it would witness pullback rally which would take the index towards 16500-16600.
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