Nifty closed at 22273 with a loss of 247 points

2024-04-16 09:22:36 am | Source: Jainam Share Consultants

Nifty closed at 22273 with a loss of 247 points - 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 22273 with a loss of 247 points. On the daily chart the index has formed a bearish candle with long upper shadow indicating selling pressure as well as resistance at higher levels. The chart pattern suggests that if Nifty breaks and sustains below 22250 level it would witness selling which would lead the index towards 22200-22100 levels. However if index crosses above 22400 level it would witness pullback rally which would take the index towards 22450-22500.

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Nifty closed at 22273 with a loss of 247 points - Jainam Share Consultants

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