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Nifty

Nifty opened with an upward gap and remained in positive terrain throughout the day. Nifty closed at 19590 with a gain of 176 points. On the daily chart the index has formed a Bullish candle with a long lower shadow indicating buying at lower levels. The chart pattern suggests that if Nifty breaks and sustains below 19500 level it would witness selling which would lead the index towards 19400-19300 levels. However if index crosses above 19600 level it would witness pullback rally which would take the index towards 19650-19700

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

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