Nifty opened with a downward gap and traded with extreme volatility on either side to end on negative 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 negative note. Nifty closed at 26274withagainof 24 points. On the daily chart the index has formed a bearish candle with shadows on either side representing extreme volatilityaswell asindecisiveness amongst participants regarding the direction. The chart pattern suggests that if Nifty crosses and sustains above 26275level itwould witness buying which would lead the index towards 26400-26500 levels. Important Supports for the day is around 26120Howeverifindex sustains below 26120 then it may witness profit booking which would take the index towards 26050-25950 levels.
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SEBI Registration No.: INZ000198735, Research Analyst: INH000006448, PMS: INP000006785
