Today Nifty opened higher at 8564 with the support from gains in power, oil and gas, metal, capital goods, banks and auto stocks. A positive sentiment was noticed due to the expectation of the much awaited GST bill in this monsoon session. In the smaller time frame initially the market stayed in consolidation and in the second half the index got tanked due to profit booking.
Initially Nifty Bank breached the resistance of the channel, but it could not hold the momentum and closed below inside the channel forming a shooting star like pattern.
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