Nifty opened with a huge downward gap and witnessed selling in the initial half of the session - Jainam
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 near day's high. Nifty closed at 24615 with a loss of 159 points. On the daily chart the index has formed a Bearish candle with long lower shadow indicating buying support at lower levels. The chart pattern suggests that if Nifty crosses and sustains above 24710 level it would witness buying which would lead the index towards 24780-24850 levels. Important Supports for the day is around 24420 However if index sustains below 24420 then it may witness profit booking which would take the index towards 24300- 24200 levels.
Please refer disclaimer at https://jainam.in/
SEBI Registration No.: INZ000198735, Research Analyst: INH000006448, PMS: INP000006785
