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Nifty opened with an upward gap and remained lackluster within narrow trading range throughout the day - Jainam Share Consultants
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Nifty
Nifty opened with an upward gap and remained lackluster within narrow trading range throughout the day. Nifty closed at 24823 with a gain of 12 points. On the daily chart index has formed a sma l l b e a ris h c a n d l e representing resistance at higher levels. The chart pattern suggests that if Nifty crosses and sustains above 24860 level it would witness buying which would lead the index towards 24950-25000 levels. Important Supports for the day is around 24770 However if index sustains below 24770 then it may witness profit booking which would take the index towards 24700-24570 levels.
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Quote on?Market Wrap by Shrikant Chouhan, Head Equity Research, Kotak Securities
