Nifty rebounds from gap-down open, ends near day`s high - Jainam Broking Ltd
Nifty opened with a downward gap however buying momentum at lower levels pulled index higher to end near day's high. Nifty closed at 23843 with a loss of 208 points. On the daily chart index has formed a bullish candle however it has continued to form lower High-Low compare to previous session indicating negative sign. The chart pattern suggests that if Nifty crosses and sustains above 23910 level it would witness buying which would lead the index towards 24100- 24250 levels. Important Supports for the day is around 23550 However if index sustains below 23550 then it may witness profit booking which would take the index towards 23440- 23250 levels.
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SEBI Registration No.: INZ000198735, Research Analyst: INH000006448, PMS: INP000006785
