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 21331 with a gain of 76 points. On the daily chart the index has formed a small bullish candle with shadows on either side indi c ating indecisiveness amongst participants regarding the direction. The chart pattern suggests that if Nifty crosses and sustains above 21400 level it would witness buying which would lead the index towards 21500-21550 levels. Important Supports for the day is around 21200 However if index sustains below 21200 then it may witness profit booking which would take the index towards 21000-20900 levels.
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Weekly Market Wrap by Amol Athawale, VP-Technical Research, Kotak Securities
