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Nifty

Nifty opened on a positive note and witnessed sideways movement in initial half. However last hour profit booking pulled index lower to end in red. Nifty closed at 18105 with a loss of 86 points. On the daily chart index has formed a bearish candle representing resistance at higher levels. The chart pattern suggests that if Nifty breaks and sustains below 18080 level it would witness selling which would lead the index towards 18000-17900 levels. However if index crosses above 18270 level it would witness pullback rally which would take the index towards 18350-18400.

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

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