Nifty opened with a flat note and witnessed consolidation in initial hours - Jainam Share Consultants
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Nifty
Nifty opened with a flat note and witnessed consolidation in initial hours. However buying momentum in second half pulled index higher to close near the day's high. Nifty closed at 17822 with a gain of 131 points. On the daily chart the index has formed a long Bullish candle forming higher High-Low formation indicating positive bias. The chart pattern suggests that if Nifty crosses and sustains above 17830 level it would witness buying which would lead the index towards 17940- 18000 levels. Important Supports fo r t h e d ay is a ro u n d 1 7 6 4 0 However if index sustains below 17640 then it may witness profit booking which would take the index towards 17580-17500 levels.
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