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Nifty

Nifty opened with an upward gap but witnessed selling from the opening tick to end near the day's low. Nifty closed at 17999 with a loss of 110 points. On the daily chart the index has formed a long Bearish candle forming lower High-Low compare to previous session indicating negative bias. The chart pattern suggests that if Nifty crosses and sustains above 18130 level it would witness buying which would lead the index towards 18210-18340 levels. Important Supports for the day is around 17950 However if index sustains below 17950 then it may witness profit booking which would take the index towards 17900-17800 levels.

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

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