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Nifty

Nifty opened with an upward gap and remained lackluster within narrow trading range throughout the day. Nifty closed at 18594 with a gain of 60 points. On the daily chart the index has formed a bearish candle with long upper shadow indicating selling pressure as well as resistance at higher levels. The chart pattern suggests that if Nifty crosses and sustains above 18650 level it would witness buying which would lead the index towards 1870 0 -1 8 8 0 0 l evels. Important Supports for the day is around 18580 However if index sustains below 18580 then it may witness profit booking which would take the index towards 18500-18400 levels.

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

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