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Nifty

Nifty opened on a positive note but witnessed extreme volatility on either side for most part of the session. However later hour buying momentum pulled index higher to end on a flat note. Nifty closed at 19749 with a gain of 38 points. On the daily chart the index has formed a small Bearish candle with shadows on either side indicating indecisiveness amongst participants regarding the direction. The chart pattern suggests that if Nifty breaks and sustains below 19670 level it would witness selling which would lead the index towards 19600-19500 levels. However if index crosses above 19820 level it would witness pullback rally which would take the index towards 19945-20000

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

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