If Nifty breaks and sustains below 17880 level it would witness selling which would lead the index towards 17800- 17750 levels - Jainam Broking
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Nifty
Nifty opened with a downward gap and traded with extreme volatility on either side to end on negative note. Nifty closed at 17944 with a loss of 92 points. On the daily chart, the price movement has taken a shape of small bearish candle carrying either side shadows representing volatile session. It has formed lower High-Low formation compare to previous session which remains a negative sign. The chart pattern suggests that if Nifty breaks and sustains below 17880 level it would witness selling which would lead the index towards 17800- 17750 levels. However if index crosses above 18050 level it would witness pullback rally which would take the index towards 18150- 18200.
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