Nifty opened with an upward gap and remained in positive terrain throughout the day - Jainam Share Consultants
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Nifty
Nifty opened with an upward gap and remained in positive terrain throughout the day. Nifty closed at 19444 with a gain of 37 points. On the daily chart the index has formed a "Doji" candlestick formation indicating indec isi veness among st ma r ket participants regarding the direction. The chart pattern suggests that if Nifty breaks and sustains below 19400 level it would witness selling which would lead the index towards 19300-19200 levels. However if index crosses above 19450 level it would witness pullback rally which would take the index towards 19500-19600.
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Weekly Market Wrap by Amol Athawale, VP-Technical Research, Kotak Securities
