Nifty opened with downward gap and extended its down move in initial hours making day low around 25728 - Jainam Share Consultants
Nifty opened with downward gap and extended its down move in initial hours making day low around 25728. However, buying support at lowerlevels recovered most of the earlier losses to end near day's high.. Nifty closed at 25840 with a loss of 121 points. On the daily chart theindexhas formed a Bearish candle with long lower shadow indicating buying support at lower levels. The chart pattern suggests that if Niftycrossesand sustains above 25925 level it would witness buying which would lead the index towards 26000-26120 levels. Important Supports for thedayis around 25728 However if index sustains below 25728 then it may witness profit booking which would take the index towards 25650-25600levels.
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SEBI Registration No.: INZ000198735, Research Analyst: INH000006448, PMS: INP000006785
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