On the daily chart index has formed a small bearish candle representing resistance at higher levels - Jainam Share Consultants
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Nifty
Nifty opened on a flat note and traded with extreme volatility on either side to end on negative note. Nifty closed at 18771 with a loss of 86 points. On the daily chart index has formed a small bearish candle representing resistance at higher levels. The chart pattern suggests that if Nifty breaks and sustains below 18750 level it would witness selling which would lead the index towards 18700-18650 levels. However if index crosses above 18890 level it would witness pullback rally which would take the index towards 18950-19000.
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