Nifty opened with downward gap and extended its down move in initial hours ma k ing day low a round - Jainam Share Consultant
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Nifty
Nifty opened with downward gap and extended its down move in initial hours ma k ing day low a round 1 6 8 3 6 however buying support at lower levels recovered most of the earlier losses to end near day's high.. Nifty closed at 17278 with a gain of 129 points. On the daily chart index has formed a bullish candle however it has continue to form lower High-Low compare to previous session indicating negative sign. The chart pattern suggests that if Nifty crosses and sustains above 17310 level it would witness buying which would lead the index towards 17420- 17500 levels. Important Supports for the day is around 16830 However if index sustains below 16830 then it may witness profit booking which would take the index towards 16750- 16700 levels.
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