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Nifty Gains Early but Closes Near Day`s Low on Second-Half Selling - Jainam Share Consultants
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Nifty
Nifty opened on a positive note and extended buying momentum in the first half however selling in the second half led the index lower to close near day's low. Nifty closed at 23519 with a gain of 65 points. On the daily chart the index has formed a Bearish candle withalonguppershadow indicating selling at higher levels. The chart pattern suggests that if Nifty breaks and sustains below 23460 level it would witnesssellingwhich would lead the index towards 23400-23300 levels. However if index crosses above 23650 level it would witness pullback rallywhichwould take the index towards 23700-23800.
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SEBI Registration No.: INZ000198735, Research Analyst: INH000006448, PMS: INP000006785
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