IGI Logo

Nifty

Nifty opened with an upward gap and witnessed selling pressure in in the first half. However, buying momentum in second half pulled index higher to close near the day's high.. Nifty closed at 22545 with a gain of 207 points. On the daily chart the index has formed a strong Bullish candle carrying long lower shadow indicating buying support at lower levels. The chart pattern suggests that if Nifty crosses and sustains above 22560 level it would witness buying which would lead the index towards 22650-22700 levels. Important Supports for the day is around 22250 However if index sustains below 22250 then it may witness profit booking which would take the index towards 22200-22100 levels.

Please refer disclaimer at https://jainam.in/
SEBI Registration No.: INZ000198735, Research Analyst: INH000006448, PMS: INP000006785