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Nifty

Nifty opened with upward gap and witnessed extreme volatility on account of Union Budget. Nifty closed at 17616 with a loss of 46 points. On the daily chart the index has formed a Bearish candle with shadows on either side indicating indecisiveness amongst participants regarding the direction. The chart pattern suggests that if Nifty breaks and sustains below 17530 level it would witness selling which would lead the index towards 17450- 17400 levels. However if index crosses above 17735 level it would witness pullback rally which would take the index towards 17800- 18000.

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

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