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Bajaj Capital / 10:06 Sep 17,2018
On Friday, Nifty has opened on a positive note taking positive cues from global markets. It has extended the opening gains during the day and it closed at 11515 with 145 points of day rally. Technically the sentiments turn on negative side once it breached below 11300 on Wednesday. Technically, the short term trend has weak on chart and is likely to be until and unless it trades and sustains above 11550-11620. Technically it is likely to confirm on chart once at least it gives two consecutive closing above aforesaid levels.
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In this case it may have potential to movetowards 11880-12220 and may resume the uptrend in coming days. The panicselling may active only below 11220. In this case it may find the next supportat 10950-10880.

For the day, it may stay positive on charts if it tradesabove 11555 then it may move towards 11588-11620 where it has resistance forthe day. If it slides below 11488 then it may find the support at 11444-11422.More

 


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