Nifty opened with an upward gap but witnessed selling in the initial half hour - Jainam
Nifty
Nifty opened with an upward gap but witnessed selling in the initial half hour. However in the second half, buying momentum pulled index higher to close near day's high. Nifty closed at 23146 with a gain of 149 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 23150 level it would witness buying which would lead the index towards 23250-23340 levels. Important Supports for the day is around 23100 However if index sustains below 23100 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
