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NEW DELHI: Nifty opened gap up on Tuesday, but saw a steady decline through the session to form a long bearish candle similar to that of a 'Bearish Belt Hold' pattern for the day. The candle had a small lower shadow and no upper shadow as the opening level was the day's high.
Mazhar Mohammad of Chartviewindia.in said, "Unless Nifty swiftly registers a close above 14,300, the possibility of slipping towards 13,950 remains higher. In case the bulls manage a close above 14,300, a sideways move with slightly positive bias can be expected. Upsides for time being remain capped at 14,530 level."