IGI Logo

Nifty

Nifty opened with a downward gap and witnessed consolidation in initial hours. However last hour selling pressure in second half dragged index lower to close near the day's low.. Nifty closed at 17172 with a loss of 221 points. On the daily chart the index has formed a Bearish candle with a long upper shadow indicating selling at higher levels. The chart pattern suggests that if Nifty crosses and sustains above 17315 level it would witness buying which would lead the index towards 17415-17500 levels. Important Supports for the day is around 17150 However if index sustains below 17150 then it may witness profit booking which would take the index towards 17100-17000 levels.

To Read Complete Report & Disclaimer Click Here

Please refer disclaimer at https://jainam.in/
SEBI Registration No.: INZ000198735, Research Analyst: INH000006448, PMS: INP000006785
 

Views express by all participants are for information & academic purpose only. Kindly read disclaimer before referring below views. Click Here For Disclaimer