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Nifty

Nifty opened with an downward gap and witnessed selling for most part of the session. However last hour pullback action pulled index higher to close on a positive note.. Nifty closed at 17649 with a gain of 45 points. On the daily chart the index has formed a Bullish candle carr y ing either side shadows indicating extreme volatility. The chart pattern suggests that if Nifty breaks and sustains below 17500 level it would witness selling which would lead the index towards 17450-17400 levels. However if index crosses above 17700 level it would witness pullback rally which would take the index towards 17800-18000.

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

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