Nifty opened with an upward gap and witnessed selling pressure in initial hours - Jainam Share Consultants
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Nifty
Nifty opened with an upward gap and witnessed selling pressure in initial hours. However buying momentum in second half pulled index higher to close near the day's high.. Nifty closed at 22217 with a gain of 162 points. On the daily chart the index has formed a small Bullish candle carrying long lower shadow indicating buying support at lower levels. The chart pattern suggests that if Nifty crosses and sustains above 22250 level it would witness buying which would lead the index towards 22300-22350 levels. Important Supports for the day is around 22100 However if index sustains below 22100 then it may witness profit booking which would take the index towards 22000-21950 levels.
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SEBI Registration No.: INZ000198735, Research Analyst: INH000006448, PMS: INP000006785
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