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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 22531 with a gain of 42 points. On the daily chart the index has formed a Bearish candle with a long upper shadow indicating selling at higher levels. The chart pattern suggests that if Nifty breaks and sustains below 22400 level it would witness selling which would lead the index towards 22300-22250 levels. However if index crosses above 22700 level it would witness pullback rally which would take the index towards 22800-23000.
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SEBI Registration No.: INZ000198735, Research Analyst: INH000006448, PMS: INP000006785
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Quote on?Market Wrap by Shrikant Chouhan, Head Equity Research, Kotak Securities
