Nifty Recovers From Gap-Down Opening, Ends Near Day`s High - Jainam Broking Ltd
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 23650 with a gain of 6 points. On the daily chart the index has formed a strong Bullish candle carrying long lower shadow indicating buying support at lower levels. The chart pattern suggests that if Nifty breaks and sustains below 23550 level it would witness selling which would lead the index towards 23470-23400 levels. However if index crosses above 23700 level it would witness pullback rally which would take the index towards 23850-23950.
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