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Nifty

Nifty opened with an upward gap and witnessed selling for most part of the session. However last hour pullback action pulled index higher to close on positive note.. Nifty closed at 19133 with a gain of 144 points. On the daily chart the index has formed a small bullish candle with shadows on either side representing extreme volatility as wel l as indec isi veness among st participants regarding the direction. The chart pattern suggests that if Nifty breaks and sustains below 19050 level it would witness selling which would lead the index towards 18970-18900 levels. However if index crosses above 19180 level it would witness pullback rally which would take the index towards 19250-19300.

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