Nifty opened on a flat note and witnessed selling pressure in the initial hour of the day

2023-10-31 09:37:04 am | Source: Jainam Share Consultants

Nifty opened on a flat note and witnessed selling pressure in the initial hour of the day - Jainam Share Consultants

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Nifty

Nifty opened on a flat note and witnessed selling pressure in the initial hour of the day. However later hour buying led index to end on a positive note. Nifty closed at 19141 with a gain of 94 points. On the daily chart the index has formed a small Bullish candle carrying long lower shadow indicating buying support at lower levels. The chart pattern suggests that if Nifty breaks and sustains below 18950 level it would witness selling which would lead the index towards 18900-18850 levels. However if index crosses above 19160 level it would witness pullback rally which would take the index towards 19200-19250.

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Nifty opened on a flat note and witnessed selling pressure in the initial hour of the day - Jainam Share Consultants

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