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Nifty breaks and sustains below 21150 level - Jainam Share Consultants
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Nifty
Nifty opened with an upward gap but witnessed selling from the opening tick to end negative. Nifty closed at 21378 with a loss of 76 points. On the daily chart the index has formed a Bearish candle with long lower shadow indicating buying support at lower levels. The chart pattern suggests that if Nifty breaks and sustains below 21150 level it would witness selling which would lead the index towards 20950-20800 levels. However if index crosses above 21500 level it would witness pullback rally which would take the index towards 21700-21800.
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SEBI Registration No.: INZ000198735, Research Analyst: INH000006448, PMS: INP000006785
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Quote on?Market Wrap by Shrikant Chouhan, Head Equity Research, Kotak Securities
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