Nifty Opens with Gap Down, Selling Pressure Drags Market Lower

2026-03-16 09:20:42 am | Source: Jainam Share Consultants

Nifty Opens with Gap Down, Selling Pressure Drags Market Lower - Jainam Share Consultants

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Nifty

Nifty opened with a downward gap and selling pressure throughout the session dragged it lower to end negative . Nifty closed at 23151withaloss of 488 points. On the daily chart the index has formed a long Bearish candle forming lower High-Low compare to previous sessionindicatingnegative bias. The chart pattern suggests that if Nifty breaks and sustains below 23110 level it would witness selling which wouldleadtheindextowards 23000-22900 levels. However, if index crosses above 23200 level it would witness pullback rally which would take the indextowards23400-23500.

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Nifty Opens with Gap Down, Selling Pressure Drags Market Lower - Jainam Share Consultants

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