Nifty opened with a positive note but witnessed sideway movement in the first hour - Jainam
Nifty
Nifty opened with a positive note but witnessed sideway movement in the first hour. However, selling in the second half led the index lower to close near day's low. Nifty closed at 24079 with a gain of 26 points. On the daily chart the index has formed a "Doji" candlestick formation indicating indecisiveness amongst market participants regarding the direction. The chart pattern suggests that if Nifty crosses and sustains above 24220 level it would witness buying which would lead the index towards 24300-24350 levels. Important Supports for the day is around 24000 However if index sustains below 24000 then it may witness profit booking which would take the index towards 23925- 23800 levels.
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SEBI Registration No.: INZ000198735, Research Analyst: INH000006448, PMS: INP000006785
