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Nifty

Nifty opened with downward gap and selling pressure throughout the session led it to close near day's low. Nifty closed at 17223 with a loss of 23 points. On the daily chart the index has formed a small Bullish candle with upper shadow indi cating selling pressure as well as resistance at higher levels. The chart pattern suggests that if Nifty crosses and sustains above 17300 level it would witness buying which would lead the index towards 17 3 5 0 -1 7 4 0 0 l evels. Important Supports for the day is around 17090 However if index sustains below 17090 then it may witness profit booking which would take the index towards 17000-16900 levels

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

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