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Nifty opened with an upward gap but witnessed selling - Jainam Share Consultants
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Nifty
Nifty opened with an upward gap but witnessed selling from the opening tick to end negative. Nifty closed at 24031 with a loss of 25 points. On the daily chart the index has formed a Bearish candle with a long upper shadow indicating selling at higher levels. The chart pattern suggests that if Nifty breaks and sustains below 23900 level it would witness selling which would lead the index towards 23800-23700 levels. However if index crosses above 24400 level it would witness pullback rally which would take the index towards 24500-24600
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SEBI Registration No.: INZ000198735, Research Analyst: INH000006448, PMS: INP000006785
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