Nifty opened with an downward gap and selling pressure throughout the session dragged it lower to end near lowest point of the day - Jainam Share Consultants
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Nifty
Nifty opened with an downward gap and selling pressure throughout the session dragged it lower to end near lowest point of the day. Nifty closed at 15808 with a loss of 359 points. On the daily chart the index has formed a long Bearish candle forming lower High-Low compare to previous session indicating negative bias. The chart pattern suggests that if Nifty crosses and sustains above 16050 level it would witness buying which would lead the index towards 16150-16200 levels. Important Supports for the day is around 15730 However if index sustains below 15730 then it may witness profit booking which would take the index towards 15670-15600 levels.
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