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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 end negative. Nifty closed at 17585 with a loss of 44 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 17800 level it would witness buying which would lead the index towards 17900- 18000 levels. Important Supports fo r t h e d ay is a ro u n d 1 7 5 0 0 However if index sustains below 17500 then it may witness profit booking which would take the index towards 17370-17300 levels

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

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