Nifty opened on a positive note and extended buying momentum in the first half however - 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 16683 with a gain of 5 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 eitherside. The chart pattern suggests that if Nifty crosses and sustains above 16800 level it would witness buying which would lead the index towards 16 8 7 0 -1 6 9 5 0 l evels. Important Supports for the day is around 16620 However if index sustains below 16620 then it may witness profit booking which would take the index towards 16555-16500 levels.
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