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

2025-04-02 09:32:11 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 TECHNICAL

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 23166 with a loss of 354 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 23130 level it wouldwitnessselling which would lead the index towards 23050-23000 levels. Important Resistances for the day are placed at 23450-23500

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

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