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NIFTY opens with gap; buying at 24200 lifts index to strong close - Jainam Share Consultants
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Nifty
NIFTY opened with an upward gap and observed profit booking in initial hours however strong buying momentum around 24200 levels pulled index higher to close on strong note. Nifty closed at 24490 with a gain of 277 points. On the daily chart the index has formedalongBullishcandle forming higher High-Low formation indicating positive bias. The chart pattern suggests that if Nifty breaks and sustains below 24100 level it would witness selling which would lead the index towards 24000-23900 levels. However if index crosses above 24550 level it wouldwitness pullback rally which would take the index towards 24600-24700
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SEBI Registration No.: INZ000198735, Research Analyst: INH000006448, PMS: INP000006785
