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 22336 with a gain of 3 points. On the daily chart the index h a s fo rme d a Do j i c a n d l e sti c k formation indicating indecisiveness amongst market participants regarding the direction. The chart pattern suggests that if Nifty breaks and sustains below 22250 level it would witness selling which would lead the index towards 22200-22100 levels. However if index crosses above 22450 level it would witness pullback rally which would take the index towards 22500-22550.
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SEBI Registration No.: INZ000198735, Research Analyst: INH000006448, PMS: INP000006785
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Quote on Nifty by Rupak De, Senior Technical Analyst, LKP Securities
