Nifty opened on a positive note and extended buying momentum in the first half however selling -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 16959 with a loss of 215 points. On the daily chart index has formed a sizable bearish candle and closed below previous session's low indicating negative bias. The chart pattern suggests that if Nifty crosses and sustains above 17280 level it would witness buying which would lead the index towards 17350-17400 levels. Important Supports for the day is around 16820 However if index sustains below 16820 then it may witness profit booking which would take the index towards 16750-16700 levels.
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