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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 17630 with a loss of 89 points. On the daily chart the index has formed a small Bullish candle with shadows on either side indicating indecisiveness amongst participants regarding the direction. The chart pattern suggests that if Nifty crosses and sustains above 17730 level it would witness buying which would lead the index towards 17800-17900 levels. However if index breaks below 17530 level it would witness selling which would take the index towards 17430-17380.

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

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