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Nifty

Nifty opened with an upward gap and witnessed consolidation for most part of the session. However last hour pullback action pulled index higher to close near the day's high. Nifty closed at 19727 with a gain of 116 points. On the daily chart the index has formed a long Bullish candle forming higher High-Low formation indicating positive bias. The chart pattern suggests that if Nifty breaks and sustains below 19650 level it would witness selling which would lead the index towards 19600- 19550 levels. However if index crosses above 19737 level it would witness pullback rally which would take the index towards 19800-19850.

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

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