Nifty opened with a downward gap and traded with extreme volatility on either side to end on a flat note

2024-08-09 09:43:43 am | Source: Jainam Share Consultants

Nifty opened with a downward gap and traded with extreme volatility on either side to end on a flat note - Jainam Share Consultants

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Nifty

Nifty opened with a downward gap and traded with extreme volatility on either side to end on a flat note. Nifty closed at 24117 with a loss of 181 points. On the daily chart the index has formed a bearish candle with long upper shadow indicating selling pressure as well as resistance at higher levels. The chart pattern suggests that if Nifty breaks and sustains below 24080 level it would witness selling which would lead the index towards 24000-23900 levels. However if index crosses above 24350 level it would witness pullback rally which would take the index towards 24400-24500

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Nifty opened with a downward gap and traded with extreme volatility on either side to end on a flat note - Jainam Share Consultants

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