Nifty opened with a downward gap and witnessed bounce back in initial hours -Jainam Broking Ltd
Nifty
Nifty opened with a downward gap and witnessed bounce back in initial hours. However, selling pressure in second half dragged index lower to close near the day's low.. Nifty closed at 24173 with a loss of 205 points. On the daily chart the index has formed a Bullish candle with an upper shadow indicating selling at higher levels. The chart pattern suggests that if Nifty breaks and sustains below 24100 level it would witness selling which would lead the index towards 24000-23930 levels. However, if index crosses above 24310 level it would witness pullback rally which would take the index towards 24380-24500.
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SEBI Registration No.: INZ000198735, Research Analyst: INH000006448, PMS: INP000006785
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