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 negative note. Nifty closed at 23367 with a loss of 50 points. On the daily chart the index has formed a small Bearish candle with shadows on either side indicating indecisiveness amongst participants regarding the direction. The chart pattern suggests that if Nifty crosses and sustains above 23520 level it would witness buying which would lead the index towards 23600-23700 levels. Important Supports for the day is around 23280 However if index sustains below 23280 then it may witness profit booking which would take the index towards 23200-23100 levels.
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SEBI Registration No.: INZ000198735, Research Analyst: INH000006448, PMS: INP000006785
