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Nifty

Nifty opened with a downward gap and witnessed consolidation in initial hours. However last hour selling pressure in second half dragged index lower to close negative. Nifty closed at 19382 with a loss of 145 points. On the daily chart the index has formed a small Bearish candle with shadows on either side indicating indecisiveness amongst participants regarding the direction. The chart pattern suggests that if Nifty crosses and sustains above 19540 level it would witness buying which would lead the index towards 1965 0 -1 9 7 0 0 l evels. Important Supports for the day is around 19380 However if index sustains below 19380 then it may witness profit booking which would take the index towards 19300-19200 levels

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

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