The chart pattern suggests that if Nifty crosses and sustains above 19580 level - Jainam Share Consultants
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Nifty
Nifty opened with an downward gap and selling pressure throughout the session dragged it lower to end near lowest point of the day . Nifty closed at 19527 with a loss of 207 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 19580 level it would witness buying which would lead the index towards 19650-19700 levels. Important Supports for the day is around 19420 However if index sustains below 19420 then it may witness profit booking which would take the index towards 19370-19300 levels.
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SEBI Registration No.: INZ000198735, Research Analyst: INH000006448, PMS: INP000006785
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