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 flat note. Nifty closed at 23242 with a gain of 119 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 23280 level it would witness buying which would lead the index towards 23450-23500 levels. Important Supports for the day is around 23070 However if index sustains below 23070 then it may witness profit booking which would take the index towards 23000-22900 levels.
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SEBI Registration No.: INZ000198735, Research Analyst: INH000006448, PMS: INP000006785
