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Nifty

Nifty opened with an downward gap but witnessed selling from the opening tick to end near the day's low. Nifty closed at 18196 with a loss of 96.45 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 crosses and sustains above 18300 level it would witness buying which would lead the index towards 18350-18450 levels. Important Supports for the day is around 18200 However if index sustains below 18200 then it may witness profit booking which would take the index towards 18150-18100 levels.

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

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