Nifty opened on a flat note and remained in a small range throughout the day - Jainam Share Consultants
Nifty
Nifty opened on a flat note and remained in a small range throughout the day. Nifty closed at 25954 with a gain of 19 points. On the daily chart
the index has formed a Bearish candle which resembles as Hanging man candlestick formation which is a bearish reversal formation. For such
formations confirmation is necessary, so if the index breaks below previous day's low it would witness a change of trend to the downside. The
chart pattern suggests that if Nifty crosses and sustains above 26000 level it would witness buying which would lead the index towards 26100-
26150 levels. Important Supports for the day is around 25900 However if index sustains below 25900 then it may witness profit booking which
would take the index towards 25780-25700 levels.
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