Nifty opened with a positive note but witnessed sideway movement in the first hour - Jainam Broking Limited
Nifty
Nifty opened with a positive note but witnessed sideway movement in the first hour. However, selling in the second half led the index lower to close near day's low. Nifty closed at 24032 with a gain of 312 points. On the daily chart the index has formed a small Bearish candle with shadows on either side indicating indecisiveness amongst participants regarding the direction. The chart pattern suggests that if Nifty crosses and sustains above 24100 level it would witness buying which would lead the index towards 24150-24250 levels. Important Supports for the day is around 23880 However if index sustains below 23880 then it may witness profit booking which would take the index towards 23800- 23700 levels.
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SEBI Registration No.: INZ000198735, Research Analyst: INH000006448, PMS: INP000006785
