Nifty opened with an downward gap and selling pressure throughout the session dragged it lower to end near lowest point of the day - Jainam Share Consultant
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Nifty
Nifty opened with an downward gap and selling pressure throughout the session dragged it lower to end near lowest point of the day . Nifty closed at 17808 with a loss of 150 points. On the daily chart the index has formed a Bearish candle with a long upper shadow indicating selling at higher levels. The chart pattern suggests that if Nifty crosses and sustains above 17900 level it would witness buying which would lead the index towards 18 1 0 0 -1 8 2 0 0 l evels. Important Supports for the day is around 17780 However if index sustains below 17780 then it may witness profit booking which would take the index towards 17700-17650 levels.
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