However if index crosses above 20000 level it would witness pullback rally which would take the index towards 20100-20200 - 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 19910 with a loss of 223 points. On the daily chart the index has formed a Bearish candle with a long upper shadow indicating selling at higher levels. The chart pattern suggests that if Nifty breaks and sustains below 19900 level it would witness selling which would lead the index towards 19800-19750 levels. However if index crosses above 20000 level it would witness pullback rally which would take the index towards 20100-20200
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SEBI Registration No.: INZ000198735, Research Analyst: INH000006448, PMS: INP000006785
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