The chart pattern suggests that if Nifty breaks and sustains below 17770 level - 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 17807 with a loss of 321 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 breaks and sustains below 17770 level it would witness selling which would lead the index towards 17700-17600 levels. However if index crosses above 17900 level it would witness pullback rally which would take the index towards 17960-18050.
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