IGI Logo

Nifty

Nifty opened on a flat note and traded positive in initial half. However, profit booking in second half erased most of the earlier gains which led index to close near day's low.. Nifty closed at 23215 with a loss of 27 points. On the daily chart the index has formed a small Bearish candle with upper shadow indicating selling pressure as well as resistance at higher levels. The chart pattern suggests that if Nifty crosses and sustains above 23425 level it would witness buying which would lead the index towards 23500-23600 levels. Important Supports for the day is around 23180 However if index sustains below 23180 then it may witness profit booking which would take the index towards 23100-23000 levels.

Please refer disclaimer at https://jainam.in/
SEBI Registration No.: INZ000198735, Research Analyst: INH000006448, PMS: INP000006785