The chart pattern suggests that if Nifty crosses and sustains above 17815 - Jainam Share Consultants
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Nifty
Nifty opened with an upward gap but witnessed selling from the opening tick to end near the day's low. Nifty closed at 17656 with a loss of 74 points. On the daily chart the index has formed a Bearish Marubozu candlestick pattern. it is formed when the price opens at a certain point and keeps falling and have a long body with small or no shadow. For such formations confirmation is necessary, so if the index breaks below previous day's low it would witness a change of trend to the downside. The chart pattern suggests that if Nifty crosses and sustains above 17815 level it would witness buying which would lead the index towards 17900-18000 levels. However if index breaks below 17630 level it would witness selling which would take the index towards 17580- 17500.
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Nifty opened with an upward gap and witnessed consolidation for most part of the session - J...
