Nifty breaks and sustains below 21650 level it would witness selling

02-02-2024 09:34 AM | Source: Jainam Share Consultants

Nifty breaks and sustains below 21650 level it would witness selling - Jainam Share Consultant

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Nifty

Nifty opened on a positive note and traded with extreme volatility on either side and closed in a negative territory. Nifty closed at 21697 with a loss of 28 points. On the daily chart index has formed a small bearish candle representing resistance at higher levels. The chart pattern suggests that if Nifty breaks and sustains below 21650 level it would witness selling which would lead the index towards 21600-21500 levels. However if index crosses above 21830 level it would witness pullback rally which would take the index towards 21900-22000.

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Nifty breaks and sustains below 21650 level it would witness selling - Jainam Share Consultant

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