Nifty opened with downward gap and extended its down move in initial hours making day low around 22800 - Jainam Share Consultants
Nifty
Nifty opened with downward gap and extended its down move in initial hours making day low around 22800. However, buyingsupportatlower levels recovered earlier losses but still ended with a negative note.. Nifty closed at 23060 with a loss of 12 points. On the dailycharttheindex has formed a Bearish candle with a long lower shadow indicating buying at lower levels. The chart pattern suggests that if Niftybreaksand sustains below 22800 level it would witness selling which would lead the index towards 22800-22700 levels. However, if indexcrossesabove 23200 level it would witness pullback rally which would take the index towards 23300-23400
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SEBI Registration No.: INZ000198735, Research Analyst: INH000006448, PMS: INP000006785
