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Nifty on Wednesday ended about 39 points lower to form a Shooting Star pattern on the daily chart to indicate a strong possibility of further weakness from current levels. ....
Nifty s short-term uptrend seems to have resumed after one day of weakness. The next upside levels to be watched are around 22,800-22,900. Immediate support is at 22,500, said Nagaraj Shetti of HDFC Securities. ....
Nifty s short-term trend seems to have reversed down after a reasonable rise from the lows. Immediate support is placed at 22,300 and the weakness below this support could trigger more declines. ....