Nifty opened on a positive note and strong buying momentum in lead the index higher to close near the day`s high - Jainam Share Consultants
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Nifty
Nifty opened on a positive note and strong buying momentum in lead the index higher to close near the day's high. Nifty closed at 22968 with a gain of 370 points. On the daily chart the index has formed a long Bullish candle forming higher High-Low formation indicating positive bias. The chart pattern suggests that if Nifty breaks and sustains below 22900 level it would witness selling which would lead the index towards 22850-22800 levels. However if index crosses above 23000 level it would witness pullback rally which would take the index towards 23100-23200.
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SEBI Registration No.: INZ000198735, Research Analyst: INH000006448, PMS: INP000006785
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Weekly Market Wrap by Amol Athawale, VP-Technical Research, Kotak Securities
