The chart pattern suggests that if Nifty breaks and sustains below 19500 level - Jainam Share Consultants
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Nifty
Nifty opened with an upward gap and remained lackluster within narrow trading range throughout the day. Nifty closed at 19575 with a gain of 46 points. On the daily chart the index has formed a small bullish candle forming higher High-Low formation compare to previous session indicating positive bias. The chart pattern suggests that if Nifty breaks and sustains below 19500 level it would witness selling which would lead the index towards 19450- 19350 levels. However if index crosses above 19590 level it would witness pullback rally which would take the index towards 19650-19700.
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