Nifty opened on a negative note and witnessed sideways movement in initial half -Jainam Broking Limited
Nifty
Nifty opened on a negative note and witnessed sideways movement in initial half. However last hour profit booking pulled index lower to close near day's low.. Nifty closed at 23996 with a loss of 97 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 24200 level it would witness buying which would lead the index towards 24320-24400 levels. Important Supports for the day is around 23950 However if index sustains below 23950 then it may witness profit booking which would take the index towards 23900- 23830 levels.
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SEBI Registration No.: INZ000198735, Research Analyst: INH000006448, PMS: INP000006785
