Nifty opened on a flat note but buying led the index upwards to end in the green - Jainam Share Consultants
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Nifty
Nifty opened on a flat note but buying led the index upwards to end in the green. Nifty closed at 24770 with a gain of 71 points. On the daily chart the index has formed a small bullish candle forming higher High-Low formation compare to previous session indicating positive bias. The chart pattern suggests that if Nifty crosses and sustains above 24800 level it would witness buying which would lead the index towards 24850-24900 levels. Important Supports for the day is around 24650 However if index sustains below 24650 then it may witness profit booking which would take the index towards 24600-24500 levels.
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Weekly Market Wrap by Amol Athawale, VP-Technical Research, Kotak Securities
