Nifty Rallies to Day's High After Weak Opening - Jainam
Nifty
Nifty opened with a downward gap however buying momentum at lower levels pulled index higher to end near day's high . Nifty closed at 22753 with a gain of 153 points . On the daily chart index has formed a bullish candle however it remained restricted within previous session's High - Low range indicating absence of strength on eitherside . The chart pattern suggests that if Nifty crosses and sustains above 22800 level it would witness buying which would lead the index towards 22900 - 23000 levels . Important Supports for the day is around 22600 However if index sustains below 22600 then it may witness profit booking which would take the index towards 22500 - 22380 levels .
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SEBI Registration No.: INZ000198735, Research Analyst: INH000006448, PMS: INP000006785
