Nifty opened on a positive note and witnessed consolidation in initial hours - Jainam Share Consultants
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Nifty
Nifty opened on a positive note and witnessed consolidation in initial hours. However buying momentum in second half lead index higher to close near the day's high. Nifty closed at 20687 with a gain of 419 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 crosses and sustains above 20700 level it would witness buying which would lead the index towards 2080 0 -2 0 9 0 0 l evels. Important Supports for the day is around 20500 However if index sustains below 20500 then it may witness profit booking which would take the index towards 20400-20300 levels.
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SEBI Registration No.: INZ000198735, Research Analyst: INH000006448, PMS: INP000006785
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