Nifty opened with an upward gap and remained in positive terrain throughout the day
Nifty opened with an upward gap and remained in positive terrain throughout the day. Nifty closed at 24093 with a gain of 195 points. On the daily chart, the index has formed a Bullish Harami pattern, where a small bullish candle is entirely contained within the range of the previous larger bearish candle, signaling a potential reversal. For confirmation of this pattern, a break above the previous day's high would indicate a shift in trend to the upside. The chart pattern suggests that if Nifty crosses and sustains above 24206 level it would witness buying which would lead the index towards 24320-24400 levels. Important Supports for the day is around 23930 However if index sustains below 23930 then it may witness profit booking which would take the index towards 23800- 23680 levels
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SEBI Registration No.: INZ000198735, Research Analyst: INH000006448, PMS: INP000006785
