IGI Logo

Nifty

Nifty opened with an upward gap and remained lackluster within narrow trading range throughout the day. Nifty closed at 24968withagainof98 points. On the daily chart, the index has formed a Bullish Harami pattern, where a small bullish candle is entirely contained withintherangeof the previous larger bearish candle, signaling a potential reversal. For confirmation of this pattern, a break above the previous day'shighwould indicate a shift in trend to the upside. The chart pattern suggests that if Nifty breaks and sustains below 24890 level it wouldwitnessselling which would lead the index towards 24800-24700 levels. However, if index crosses above 25080 level it would witness pullbackrallywhich would take the index towards 25150-25200.

Please refer disclaimer at https://jainam.in/
SEBI Registration No.: INZ000198735, Research Analyst: INH000006448, PMS: INP000006785