Nifty opened with an upward gap and traded positive in initial half - Jainam Broking Limited
Nifty
Nifty opened with an upward gap and traded positive in initial half. However, profit booking in second half erased most of the earlier gains which led index to close on a positive note. Nifty closed at 24119 with a gain of 122 points. On the daily chart the index has formed a Bullish candle with an upper shadow indicating selling at higher levels. The chart pattern suggests that if Nifty crosses and sustains above 24300 level it would witness buying which would lead the index towards 24350-24500 levels. Important Supports for the day is around 24000 However if index sustains below 24000 then it may witness profit booking which would take the index towards 23900-23760 levels.
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SEBI Registration No.: INZ000198735, Research Analyst: INH000006448, PMS: INP000006785
