Nifty opened on a positive note and extended buying momentum in the first half however selling - Jainam Share Consultants
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Nifty
Nifty opened on a positive note and extended buying momentum in the first half however selling in the second half led the index lower to end negative. Nifty closed at 17646 with a loss of 176 points. On the daily chart the index has formed a Bearish candle which has totally Engulfed its previous day 's move formi n g a "B e a ris h Engulfing" candlestick formation which is a bearish reversal formation. For such formations confirmation is necessary, so if the index breaks below previous day's low it would witness a change of trend to the downside. The chart pattern suggests that if Nifty crosses and sustains above 17890 level it would witness buying which would lead the index towards 17940-18000 levels. Important Supports for the day is around 17600 However if index sustains below 17600 then it may witness profit booking which would take the index towards 17540-17450 levels.
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Nifty opened with an upward gap and witnessed consolidation for most part of the session - J...
![Nifty opened on a flat note and witnessed sideways movement in for most part of the day - Jainam Share Consultants](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/09/0030ddf512030d1532120f3fe6f57a16.jpg)
![The chart pattern suggests that if Nifty breaks and sustains below 19500 level - Jainam Share Consultants](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/09/3e21f95665f477074dee5eef5978a359.jpg)
![it would witness selling which would lead the index towards 19360-19300 levels - Jainam Share Consultants](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/09/87e58ac27cff1542848a43c4d1c2dd27.jpg)