Tech View: Nifty50 resistance seen at 14,560; analysts say buy on dips
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For the day, Nifty closed at 14,483 level, up 142 points or 0.99 per cent. Mazhar Mohammad of Chartviewindia.in says the 14, 560 level would be crucial for Nifty.
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Independent analyst Manish Shah said Thursday's bullish Piercing Line on Nifty is giving way to bullish sentiment, but the index still needs an additional confirmation of the change in trend, which was absent in the last available data point.
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NEW DELHI: Nifty50 on Monday breached the psychologically important 14,500 mark, but failed to hold above it on a closing basis. The index formed an indecisive candle on the daily chart, with a long upper wick, suggesting selling at higher levels.