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    nifty: Tech View: Nifty shows no follow-up buying, reflects lack of strength

    New Delhi: Nifty50 on Wednesday saw selling pressure, as it ended up forming a bearish candle on the daily chart. The index failed to see a follow through buying, following the breach of 15,200-15,400 range in the previous session, reflecting a lack of strength. Analysts said a fall below 15,400 could trigger further weakness in the index while they see a decisive break above 15,700 a must for further upside. For the day, the index closed at 15,413.30, down 225.50 points or 1.44 per cent. Nagaraj Shetti, Technical Research Analyst at HDFC Securities said that the reasonable negative candle signalled a bull trap in the market. “After a sustainable upside…