Nifty Recovers from Gap-Down, Closes Strong - 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 24239 with a loss of 96 points. On the daily chart index has formed a bearish candle however it manage to maintain higher High-low compare to previous session indicating positive bias. The chart pattern suggests that if Nifty crosses and sustains above 24270 level it would witness buying which would lead the index towards 24350-24500 levels. Important Supports for the day is around 24130 However if index sustains below 24130 then it may witness profit booking which would take the index towards 24000- 23925 levels.
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SEBI Registration No.: INZ000198735, Research Analyst: INH000006448, PMS: INP000006785
