Index has formed a bearish candle however it remained restricted within previous session's High-Low range - Jainam Share Consultants
Nifty
Nifty opened with downward gap and selling pressure throughout the session led it to close near day's low. Nifty closed at 17660 with a loss of 47 points. On the daily chart index has formed a bearish candle however it remained restricted within previous session's High-Low range indicating absence of strength on eitherside. The chart pattern suggests that if Nifty crosses and sustains above 17770 level it would witness buying which would lead the index towards 17850-17900 levels. Important Supports for the day is around 17570 However if index sustains below 17570 then it may witness profit booking which would take the index towards 17500-17400 levels.
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