Nifty opened with a downward gap and witnessed bounce back in initial hours - Jainam Share Consultants
Nifty
Nifty opened with a downward gap and witnessed bounce back in initial hours. However, selling pressure in second half draggedindexlowertoclose near the day's low.. Nifty closed at 25733 with a loss of 145 points. On the daily chart the index has formed a small Bearishcandlewithupper shadow indicating selling pressure as well as resistance at higher levels, The chart pattern suggests that if Nifty breaks and sustainsbelow25700 level it would witness selling which would lead the index towards 25650-25600 levels. However, if index crosses above 25800level itwould witness pullback rally which would take the index towards 25850-25900.
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