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Nifty 

Nifty opened with an downward gap but witness ed buy ing from the opening tick to end positive. Nifty closed at 17946 with a gain of 51 points. On the daily chart the index has formed a small Bullish candle with upper shadow indi cating selling pressure as well as resistance at higher levels. The chart pattern suggests that if Nifty crosses and sustains above 18050 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 17840 However if index sustains below 17840 then it may witness profit booking which would take the index towards 17760-17700 levels.

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

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