06-12-2023 09:34 AM | Source: Jainam Share Consultants
The chart pattern suggests that if Nifty breaks and sustains below 18550 level - Jainam Share Consultants
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Nifty

Nifty opened on a flat note but selling led the index downwards to end in red. Nifty closed at 18563 with a loss of 71 points. On the daily chart index has formed a small bearish candle forming lower High-Low compare to previous session and has closed below previous session's low indicating negative bias. The chart pattern suggests that if Nifty breaks and sustains below 18550 level it would witness selling which would lead the index towards 18500-18400 levels. However if index crosses above 18680 level it would witness pullback rally which would take the index towards 18750-18800.

 

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