Nifty opened with a downward gap and witnessed pullback rally at lower levels - Jainam Share Consultants
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Nifty
Nifty opened with a downward gap and witnessed pullback rally at lower levels however selling pressure at higher levels dragged index to close in negative territory. Nifty closed at 17746 with a loss of 179 points. On the daily chart the index has formed a Bearish candle with long lower shadow indicating buying support at lower levels. The chart pattern suggests that if Nifty crosses and sustains above 17800 level it would witness buying which would lead the index towards 17950 -18000 levels. Important Supports for the day is around 17650 However if index sustains below 17650 then it may witness profit booking which would take the index towards 17550-17500 levels.
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