The chart pattern suggests that if Nifty breaks and sustains below 18710 level - Jainam Share Consultants
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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 18755 with a loss of 71 points. On the daily chart index has formed a sizable bearish candle indicating negative bias. The chart pattern suggests that if Nifty breaks and sustains below 18710 level it would witness selling which would lead the index towards 18600-18500 levels. However if index crosses above 18900 level it would witness pullback rally which would take the index towards 18950-19000.
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