Nifty opened with a downward gap and witnessed bounce back in initial hours

2025-10-09 09:45:49 am | Source: Jainam Share Consultants

Nifty opened with a downward gap and witnessed bounce back in initial hours - Jainam Share Consultants

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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 25046 with a loss of 62 points. On the daily chart the index has formed a Bearish candlewithalongupper shadow indicating selling at higher levels. The chart pattern suggests that if Nifty breaks and sustains below 25000 level it wouldwitnessselling which would lead the index towards 24900-24800 levels. However, if index crosses above 25200 level it would witness pullbackrallywhich would take the index towards 25250-25300.

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Nifty opened with a downward gap and witnessed bounce back in initial hours - Jainam Share Consultants

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