Nifty opened on a flat note but selling led the index downwards to end in red - Jainam Share Consultants
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Nifty
Nifty opened on a flat note but selling led the index downwards to end in red. Nifty closed at 22032 with a loss of 65 points. On the daily chart the index has formed a small Bearish candle with shadows on either side indicating indecisiveness amongst participants regarding the direction. The chart pattern suggests that if Nifty crosses and sustains above 22130 level it would witness buying which would lead the index towards 22200-22270 levels. Important Supports for the day is around 21950 However if index sustains below 21950 then it may witness profit booking which would take the index towards 21850-21800 levels.
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Quote on FPI from Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services
