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Nifty

Nifty opened on a positive note but selling pressure throughout the session dragged it lower to close on a flat note. Nifty closed at 17833 with a gain of 35 points. On the daily chart index has formed a bearish candle however it manage to maintain higher High-low compare to previous session indicating positive bias. The chart pattern suggests that if Nifty crosses and sustains above 17930 level it would witness buying which would lead the index towards 18000-18115 levels. However if index breaks below 17785 level it would witness selling which would take the index towards 17700- 17650

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

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