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Nifty

Nifty opened with an upward gap and remained lackluster within narrow trading range throughout the day. Nifty closed at 17539 with a loss of 3 points. On the daily chart the index has formed a small Bearish candle with shadows on either side indicating indecisiveness amongst participants regarding the direction. The chart pattern suggests that if Nifty crosses and sustains above 17650 level it would witness buying which would lead the index towards 17700-17780 levels. However if index breaks below 17470 level it would witness selling which would take the index towards 17400-17300.

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

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