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Nifty

Nifty opened on a positive note but witnessed selling in initial hours. However buying momentum in second half lead index higher to close near the day's high. Nifty closed at 17606 with a gain of 142 points. On the daily chart the index has formed a small Bullish candle carrying long lower shadow indicating buying support at lower levels. The chart pattern suggests that if Nifty crosses and sustains above 17650 level it would witness buying which would lead the index towards 17 7 0 0 -1 7 8 0 0 l evels. Important Supports for the day is around 17400 However if index sustains below 17400 then it may witness profit booking which would take the index towards 17340-17280 levels.

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

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