Nifty opened with a downward gap and witnessed buying momentum in initial hours - Jainam Share Consultants
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Nifty
Nifty opened with a downward gap and witnessed buying momentum in initial hours. However it has remained lack luster within 17600 - 17500 throughout the session. Nifty closed at 17605 with a gain of 27 points. On the daily chart index has formed a bullish candle however it remained restricted within previous session's High-Low range indicating absence of strength on eitherside. The chart pattern suggests that if Nifty crosses and sustains above 17630 level it would witness buying which would lead the index towards 17700-17850 levels. However if index breaks below 17499 level it would witness selling which would take the index towards 17400-17350.
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