Nifty opened with an Downward gap and witnessed selling pressure in initial hours - Jainam Share Consultants
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Nifty
Nifty opened with an Downward gap and witnessed selling pressure in initial hours. However buying momentum in second half pulled index higher to close near the day's high. Nifty closed at 19436 with a loss of 93 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 breaks and sustains below 19330 level it would witness selling which would lead the index towards 19250-19200 levels. However if index crosses above 19460 level it would witness pullback rally which would take the index towards 19550-19600.
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