Nifty May Decline if It Breaks Below 23800, Targeting 23700-23600 - Jainam Share Consultants
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Nifty
Nifty opened with a downward gap however buying momentum at lower levels pulled index higher to end near day's high. Nifty closedat 24213with a gain of 218 points. On the daily chart index has formed a bullish candle however it remained restricted within previous session's High-Lowrange indicating absence of strength on eitherside. The chart pattern suggests that if Nifty breaks and sustains below23800 level it wouldwitness selling which would lead the index towards 23700-23600 levels. However if index crosses above 24380 level it would witness pullbackrally which would take the index towards 24500-24600
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SEBI Registration No.: INZ000198735, Research Analyst: INH000006448, PMS: INP000006785
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