The chart pattern suggests that if Nifty crosses and sustains above 18430 level - Jainam Share Consultants
![](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/05/8fb58cad7d74204cf7583e47406c7c3e.jpg)
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
Nifty
Nifty opened on a positive note and extended buying momentum in the first half however selling in the second half led the index lower to close near day's low. Nifty closed at 18348 with a gain of 34 points. On the daily chart the index has formed a bearish candle which resembles as Gravestone Doji. It appears when price action opens and closes at the lower end of the trading range. After the candle open, buyers were able to push the price up but by the close they were not able to sustain the bullish momentum. At the top of a move to the upside, this is a bearish signal. The chart pattern suggests that if Nifty crosses and sustains above 18430 level it would witness buying which would lead the index towards 18470-18530 levels. Important Supports for the day is around 18347 However if index sustains below 18347 then it may witness profit booking which would take the index towards 18300-18200 levels.
To Read Complete Report & Disclaimer Click Here
PleasTe refer disclaimer at https://jainam.in/
SEBI Registration No.: INZ000198735, Research Analyst: INH000006448, PMS: INP000006785
Views express by all participants are for information & academic purpose only. Kindly read disclaimer before referring below views. Click Here For Disclaimer
![](https://portfolio.investmentguruindia.com/uploads/news/Axis Securities Ltd.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Indiateam57.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/munishakhatwal57.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/geojit Financial Services.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/tatapower57.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/MP Ahammed.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Fintech Pre-budget expectation.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/uttarpradesh57.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Budget_3.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Cyberpeace.jpg)
Tag News
![](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/09/cc796169e4f7c012914c95f4a8efe430.jpg)
Weekly Market Analysis : Markets strengthened recovery and gained nearly 2% in the passing w...
![Weekly market outlook : The market is eagerly awaiting data on inflation and industrial production to provide further guidance Says Vinod Nair, Geojit Financial Services](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/09/5f1fa5f12be5ac87ff9258ea3909f0f8.jpg)
![Nifty registers best week in 2 months after rising for 6 consecutive sessions](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/09/95f11bf3e1fc515ff0aed747520314dc.jpg)
![Market Quote : Benchmark Indices ended the week today just a few percentage away from record highs Says S Ranganathan, LKP securities](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/09/f33c3d1dad571464e55a94475ae32892.jpg)
More News
![](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2021/02/27b272836c9e31eca5f2b64b7294f6b1.jpg)
Nifty opened with an upward gap and remained in positive - Jainam Share Consultant
![Nifty futures closed at 18355 on a positive note with 2.55% decrease in the open interest indicating Short Covering - Axis Securities](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2021/10/c66bfb2eaf094c116853d4710dd6f70c.jpg)
![Index is likely to open on a positive note today and is likely to remain range bound during the day - Nirmal Bang](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2022/05/e9bda8959e4f9aa69fdaaf00a90af701.jpg)
![Morning Market Quote : Nifty`s 17800-18200 range has been holding for sometime now Says Dr. V K Vijayakumar, Geojit Financial Services](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/01/453e52b2e967153cf7e894fea0ec5f72.jpg)