Tech View: Nifty may enter a brief consolidation; 15,000 level a hurdle
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For the day, Nifty closed at 14,894, up 30.35 points or 0.2 per cent. Gaurav Ratnaparkhi of Sharekhan said the index stumbled near the daily upper Bollinger Band as well as the upper end of a rising channel on the hourly chart.
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Mazhar Mohammad of Chartviewindia.in said the advance-decline ratio was skewed in favour of the bears, hinting at broadbased profit booking around the psychologically critical resistance at 15,000 level.
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NEW DELHI: Nifty on Thursday saw selling pressure after taking out the 15,000 level in intraday trade. The NSE barometer eventually eked out marginal gains, but formed its first bearish candle on the daily chart in six sessions.