The chart pattern suggests that if Nifty crosses and sustains above 17200 level - Jainam Share Consultants
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Nifty
Nifty opened on a flat note but selling led the index downwards to end in red. Nifty closed at 16887 with a loss of 207 points. On the daily chart index has formed a bearish candle however it remained restricted within previous session's High-Low range indicating absence of strength on eitherside. The chart pattern suggests that if Nifty crosses and sustains above 17200 level it would witness buying which would lead the index towards 17300-17400 levels. However if index breaks below 16747 level it would witness selling which would take the index towards 16700-16600.
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