Nifty opened with an upward gap but witnessed selling pressure in the through out the day - Jainam Share Consultants
Nifty
Nifty opened with an upward gap but witnessed selling pressure in the through out the day. However last hour buying led index toclosewhereit opened. Nifty closed at 25290 with a gain of 132 points. On the daily chart the index has formed a bearish candle with shadows oneithersiderepresenting extreme volatility as well as indecisiveness amongst participants regarding the direction. The chart pattern suggests that if Niftybreaks and sustains below 25200 level it would witness selling which would lead the index towards 25100-25000 levels. However, if indexcrosses above 25350 level it would witness pullback rally which would take the index towards 25420-25500.
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SEBI Registration No.: INZ000198735, Research Analyst: INH000006448, PMS: INP000006785
