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Nifty

Nifty opened with a downward gap and traded with extreme volatility on either side to end on negative note. Nifty closed at 17543 with a loss of 217 points. On the daily chart the index has formed a small Bullish candle with upper shadow indi cating selling pressure as well as resistance at higher levels. The chart pattern suggests that if Nifty crosses and sustains above 17700 level it would witness buying which would lead the index towards 17780-17900 levels. However if index breaks below 17450 level it would witness selling which would take the index towards 17400-17300.

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

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