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Nifty

Nifty opened with an upward gap and r em a i n e d i n p o siti v e t e rr a i n throughout the day. Nifty closed at 19638 with a gain of 115 points. On the daily chart the index has formed a small Bullish candle with upper shadow indicating selling pressure as well as resistance at higher levels. The chart pattern suggests that if Nifty breaks and sustains below 19490 level it would witness selling which would lead the index towards 19450-19400 levels. However if index crosses above 19650 level it would witness pullback rally which would take the index towards 19700-19750.

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