The chart pattern suggests that if Nifty breaks and sustains below 18060 level - Jainam Share Consultants
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Nifty
Nifty opened with an upward gap but witnessed selling from the opening tick to end negative. Nifty closed at 18127 with a loss of 72 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 breaks and sustains below 18060 level it would witness selling which would lead the index towards 18000-17900 levels. However if index crosses above 18200 level it would witness pullback rally which would take the index towards 18320-18400.
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