NIFTY 50 Opens Gap-Down, Selling Pressure Drags Index Lower to Close in Red - Jainam Broking Limited
Nifty
Nifty opened with a downward gap and selling pressure throughout the session dragged it lower to end negative. Nifty closed at 23816 with a loss of 360 points. On the daily chart the index has formed a long Bearish candle forming lower High-Low compare to previous session indicating negative bias. The chart pattern suggests that if Nifty crosses and sustains above 23900 level it would witness buying which would lead the index towards 24000-24150 levels. Important Supports for the day is around 23800 However if index sustains below 23800 then it may witness profit booking which would take the index towards 23700-23650 levels.
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SEBI Registration No.: INZ000198735, Research Analyst: INH000006448, PMS: INP000006785
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