Nifty opened with a huge downward gap and witnessed selling in the initial half of the session - Jainam Broking Ltd
Nifty
Nifty opened with a huge downward gap and witnessed selling in the initial half of the session. However, in the second half, buying momentum pulled index higher to close on a positive note. Nifty closed at 22713 with a gain of 34 points. On the daily chart the index has formed a strong Bullish candle carrying long lower shadow indicating buying support at lower levels The chart pattern suggests that if Nifty breaks and sustains below 22600 level it would witness selling which would lead the index towards 22530-22280 levels. However, if index crosses above 22800 level it would witness pullback rally which would take the index towards 22950-23030.
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SEBI Registration No.: INZ000198735, Research Analyst: INH000006448, PMS: INP000006785
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