Nifty opened on a flat note and remained in a small range throughout the day - Jainam Share Consultants
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Nifty
Nifty opened on a flat note and remained in a small range throughout the day. Nifty closed at 22453 with a loss of 9 points. On the daily chart the index has formed a Doji candlestick formation indicating indecisiveness amongst market participants regarding the direction. The chart pattern suggests that if Nifty breaks and sustains below 22380 level it would witness selling which would lead the index towards 22320-22250 levels. However if index crosses above 22500 level it would witness pullback rally which would take the index towards 22600-22650.
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Quote on FPI from Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services
