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Nifty opened on a negative note but witnessed sideways movement in initial half - Jainam Share Consultants
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Nifty
Nifty opened on a negative note but witnessed sideways movement in initial half. However last hour profit booking pulled index lower to end in red. Nifty closed at 20192 with a gain of 89 points. On the daily chart index has formed a small bearish candle representing resistance at higher levels. The chart pattern suggests that if Nifty breaks and sustains below 20115 level it would witness selling which would lead the index towards 20050-20000 levels. However if index crosses above 20222 level it would witness pullback rally which would take the index towards 20280-20320.
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SEBI Registration No.: INZ000198735, Research Analyst: INH000006448, PMS: INP000006785
