Nifty opens gap-down, selling pressure drags it lower to close negative - Jainam Broking Ltd
Nifty opened with a downward gap and selling pressure throughout the session dragged it lower to end negative . Nifty closed at 23775 with a loss of 222 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 crosses and sustains above 24050 level it would witness buying which would lead the index towards 24300-24400 levels. Important Supports for the day is around 23680 However if index sustains below 23680 then it may witness profit booking which would take the index towards 23600-23500 levels.
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SEBI Registration No.: INZ000198735, Research Analyst: INH000006448, PMS: INP000006785
