IGI Logo

Nifty

Nifty opened with downward gap and extended its down move in initial hours making day low around 19415. However it has remained lackluster within 19460-19430 throughout the session to end on negative note.. Nifty closed at 19444 with a loss of 82 points. On the daily chart the index has formed a small Bearish candle with shadows on either side indicating indecisiveness amongst participants regarding the direction. The chart pattern suggests that if Nifty crosses and sustains above 19500 level it would witness buying which would lead the index towards 19550-19600 levels. Important Supports for the day is around 19400 However if index sustains below 19400 then it may witness profit booking which would take the index towards 19320-19260 levels.

Please refer disclaimer at https://jainam.in/

SEBI Registration No.: INZ000198735, Research Analyst: INH000006448, PMS: INP000006785