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Nifty May Face Selling Pressure If It Breaks Below 24900 Level - Jainam Share Consultants
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Nifty
Nifty opened with a downward gap and traded with extreme volatility on either side to end on negative note. Nifty closed at 25797 withalossof14 points. On the daily chart the index has formed a small Bearish candle with shadows on either side indicating indecisiveness amongstparticipants regarding the direction. The chart pattern suggests that if Nifty breaks and sustains below 24900 level it would witness selling which would lead the index towards 24800-24700 levels. However if index crosses above 25100 level it would witness pullback rally whichwouldtakethe index towards 25150-25200
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SEBI Registration No.: INZ000198735, Research Analyst: INH000006448, PMS: INP000006785
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