Nifty opened with an upward gap and remained lackluster within narrow trading range throughout the day

07-12-2023 09:45 AM | Source: Jainam Share Consultants

Nifty opened with an upward gap and remained lackluster within narrow trading range throughout the day - Jainam Share Consultants

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Nifty

Nifty opened with an upward gap and remained lackluster within narrow trading range throughout the day. Nifty closed at 20938 with a gain of 83 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 20962 level it would witness buying which would lead the index towards 2100 0 -2 1 0 6 0 l evels. Important Supports for the day is around 20850 However if index sustains below 20850 then it may witness profit booking which would take the index towards 20800-20700 levels

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Nifty opened with an upward gap and remained lackluster within narrow trading range throughout the day - Jainam Share Consultants

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