Nifty opened with an upward gap and witnessed extreme volatility throughout the day

07-05-2024 10:13 AM | Source: Jainam Share Consultants

Nifty opened with an upward gap and witnessed extreme volatility throughout the day - Jainam Share Consultants

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Nifty

Nifty opened with an upward gap and witnessed extreme volatility throughout the day. Nifty closed at 22443 with a loss of 33 points. On the daily chart the index has formed a Bearish candle with an upper shadow indicating selling at higher levels. The chart pattern suggests that if Nifty breaks and sustains below 22350 level it would witness selling which would lead the index towards 22200-22000 levels. However if index crosses above 22600 level it would witness pullback rally which would take the index towards 22750-22800

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Nifty opened with an upward gap and witnessed extreme volatility throughout the day - Jainam Share Consultants

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