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Nifty

Nifty opened on a positive note and extended buying momentum in the first half however selling in the second half led the index lower to close near day's low. Nifty closed at 18109 with a gain of 7 points. On the daily chart the index has formed a small Bearish candle with shadows on either side indicating indecisiveness amongst participants regarding the direction. The chart pattern suggests that if Nifty crosses and sustains above 18210 level it would witness buying which would lead the index towards 18340-18380 levels. Important Supports for the day is around 18070 However if index sustains below 18070 then it may witness profit booking which would take the index towards 18000-17900 levels.

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

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