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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 19310 with a loss of 55 points. On the daily chart the index has formed a "Doji" candlestick formation indicating indecisiveness amongst market participants regarding the direction. The chart pattern suggests that if Nifty breaks and sustains below 19250 level it would witness selling which would lead the index towards 19200-19100 levels. However if index crosses above 19380 level it would witness pullback rally which would take the index towards 19500-19560.

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

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