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Nifty opened flat on Wednesday and paused the positive momentum after making a series of record highs in the past seven sessions. The index broke the previous day’s low and took a breather to close on a flat to negative note. It formed a Doji candle on the daily scale with a long lower shadow, indicating that every dip is getting bought into. Nifty has to hold above 15,000 level to continue the bullish momentum towards 15,200 and the 15,250 levels, while on the downside major support can be seen at 14,850 and 14,750 levels.
India VIX fell 1.31 per cent from 24.27 to 23.95 levels. Now, VIX needs to cool down and hold below 21 level for the continuation of the ongoing momentum with a higher market base.