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 19675 with a gain of 232 points. On the daily chart the index has formed a small Bullish candle carrying long lower shadow indicating buying support at lower levels. The chart pattern suggests that if Nifty crosses and sustains above 19700 level it would witness buying which would lead the index towards 19800-19850 levels. Important Supports for the day is around 19580 However if index sustains below 19580 then it may witness profit booking which would take the index towards 19500-19400 levels.
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Weekly Market Wrap by Amol Athawale, VP-Technical Research, Kotak Securities
