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Nifty

Nifty opened with an downward gap and selling pressure throughout the session dragged it lower to end near lowest point of the day. Nifty closed at 21885 with a loss of 1379 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 crosses and sustains above 22000 level it would witness buying which would lead the index towards 22100-22200 levels. Important Supports for the day is around 21800 However if index sustains below 21800 then it may witness profit booking which would take the index towards 21700-21500 levels.

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