Nifty dips to 23460 but recovers losses to close flat - Jainam Share Consultants
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Nifty
Nifty opened with downward gap and extended its down move making day low around 23460 levels however buying support at lower levels recovered all the earlier losses to close on a flat note. Nifty closed at 23645. On the daily chart the index has formed a Bearish candle with a long upper shadow indicating selling at higher levels. The chart pattern suggests that if Nifty breaks and sustains below 23460 level it would witness selling which would lead the index towards 23400-23300 levels. However, if index crosses above 23700 level it would witness pullback rally which would take the index towards 23800-23900
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SEBI Registration No.: INZ000198735, Research Analyst: INH000006448, PMS: INP000006785
