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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 15773 with a gain of 26 points. On the daily chart the index has formed a bearish candle with long upper shadow indicating selling pressure as well as resistance at higher levels. The chart pattern suggests that if Nifty crosses and sustains above 15900 level it would witness buying which would lead the index towards 15950-16000 levels. Important Supports for the day is around 15750 However if index sustains below 15750 then it may witness profit booking which would take the index towards 15600-15500 levels.

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

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