Nifty opened strong but selling later dragged it near day`s low close - Jainam Share Consultants
Nifty
Nifty opened on a positive note and extended buying momentum in the first half however selling in the second half led the indexlowertoclose near day's low. Nifty closed at 24635 with a loss of 20 points. On the daily chart the index has formed a small Bearish candlewithuppershadow indicating selling pressure as well as resistance at higher levels. The chart pattern suggests that if Nifty breaks and sustains below24600level it would witness selling which would lead the index towards 24500-24450 levels. However, if index crosses above 24800level it wouldwitness pullback rally which would take the index towards 24850-24900
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SEBI Registration No.: INZ000198735, Research Analyst: INH000006448, PMS: INP000006785
