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Nifty

Nifty opened with an upward gap and remained lackluster within narrow trading range throughout the day. Nifty closed at 14924 with a gain of 29 points. On the daily chart the index has formed a Spinning Top candlesti c k f o r m a t i o n i n d i c a t i n g indecisiveness amongst market pa rti c ipants re ga rding the direction. The chart pattern suggests that if Nifty breaks and sustains below 14860 level it would witness selling which would lead the index towards 14714-14570 levels. However if index crosses above 15015 level it would witness pullback rally which would take the index towards 15063-15200.

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

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