Nifty opened with a downward gap however buying momentum at lower levels pulled index higher to end near day`s high

2024-07-08 09:49:41 am | Source: Jainam Share Consultants

Nifty opened with a downward gap however buying momentum at lower levels pulled index higher to end near day`s high - Jainam Share Consultants

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Nifty

Nifty opened with a downward gap however buying momentum at lower levels pulled index higher to end near day's high. Nifty closed at 24302 with a gain of 16 points. On the daily chart the index has formed a Bullish candle with a upper shadow indicating selling at higher levels. The chart pattern suggests that if Nifty breaks and sustains below 24200 level it would witness selling which would lead the index towards 24100-24000 levels. However if index crosses above 24400 level it would witness pullback rally which would take the index towards 24500-24600.

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Nifty opened with a downward gap however buying momentum at lower levels pulled index higher to end near day`s high - Jainam Share Consultants

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