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Nifty

Nifty opened with an upward gap and r em a i n e d i n p o siti v e t e rr a i n throughout the day. Nifty closed at 17812 with a gain of 90 points. On the daily chart the index has formed a small bullish candle forming higher High-Low formation compare to previous session indicating positive bias. The chart pattern suggests that if Nifty crosses and sustains above 17830 level it would witness buying which would lead the index towards 17880- 17930 levels. Important Supports for the day is around 17700 However if index sustains below 17700 then it may witness profit booking which would take the index towards 17655- 17600 levels.

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