IGI Logo

Nifty

Nifty opened with an downward gap and selling pressure throughout the session dragged it lower to end near lowest point of theday. Nifty closed at 22553 with a loss of 243 points. On the daily chart the index has formed a small Bearish candle with shadows on either side indicating indecisiveness amongst participants regarding the direction. The chart pattern suggests that if Nifty breaks and sustains below 22700 level itwould witness selling which would lead the index towards 22750-22800 levels. However, if index crosses above 22500 level it would witness pullback rally which would take the index towards 22400-22300.

Please refer disclaimer at https://jainam.in/
SEBI Registration No.: INZ000198735, Research Analyst: INH000006448, PMS: INP000006785