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Nifty

Nifty opened on a flat note but selling led the index downwards to end in red. Nifty closed at 17763 with a loss of 93 points. On the daily chart index has formed a small bearish candle forming lower High- Low compare to previous session and has closed below previous session's low indicating negative bias. The chart pattern suggests that if Nifty breaks and sustains below 17700 level it would witness selling which would lead the index towards 17600-17500 levels. However if index crosses above 17920 level it would witne ss pullback rally which would take the index towards 18000-18200.

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

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