Nifty opened gap-down; persistent selling dragged it to day`s low - Jainam Share Consultants
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Nifty
Nifty opened with a downward gap and selling pressure throughout the session dragged it lower to end near lowest point of theday. Niftyclosed at 26042 with a loss of 100 points. On the daily chart the index has formed a bearish candle with long upper shadowindicatingsellingpressure as well as resistance at higher levels. The chart pattern suggests that if Nifty crosses and sustains above 26150 level it wouldwitnessbuying which would lead the index towards 26300-26350 levels. Important Supports for the day is around 26000 However if indexsustainsbelow 26000 then it may witness profit booking which would take the index towards 25950-25900 levels.
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