Nifty opened with an upward gap and witnessed consolidation for most part of the session - Jainam Share Consultants
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Nifty
Nifty opened with an upward gap and witnessed consolidation for most part of the session. However last hour pullback action pulled index higher to close near the day's high. Nifty closed at 19996 with a gain of 176 points. On the daily chart the index has formed a long Bullish candle forming higher High-Low formation indicating positive bias. The chart pattern suggests that if Nifty breaks and sustains below 19950 level it would witness selling which would lead the index towards 19900- 19800 levels. However if index crosses above 20000 level it would witness pullback rally which would take the index towards 20100-20150.
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