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Nifty

Nifty opened on a flat note but selling led the index downwards to end in red. Nifty closed at 17914 with a loss of 187 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 breaks and sustains below 17925 level it would witness selling which would lead the index towards 17850-17800 levels. However if index crosses above 18180 level it would witness pullback rally which would take the index towards 18260-18320.

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

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