Nifty opened with a negative note but traded positive in initial half - Jainam Broking Ltd
Nifty
Nifty opened with a negative note but traded positive in initial half. However profit booking in second half erased most of the earlier gains which led index to close near day's low. Nifty closed at 23162 with a loss of 53 points. On the daily chart the index has formed a small Bullish candle with upper shadow indicating selling pressure as well as resistance at higher levels. The chart pattern suggests that if Nifty crosses and sustains above 23330 level it would witness buying which would lead the index towards 23425-23500 levels. Important Supports for the day is around 23070 However if index sustains below 23070 then it may witness profit booking which would take the index towards 23000- 22900 levels.
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SEBI Registration No.: INZ000198735, Research Analyst: INH000006448, PMS: INP000006785
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