IGI Logo

Nifty

Nifty opened with flat note but witnessed extreme volatility on account of Union Budget however strong buying momentumat lower levels pulled index higher to close on flat note . Nifty closed at 23482 with a loss of 26 points. On the daily chart, the price movement has taken a shape of small bearish candle carrying either side shadows representing volatile session. It has formed higher High-Low formation compare to previous session which remains a positive sign. The chart pattern suggests that if Nifty crosses and sustains above 23630 level it would witness buying which would lead the index towards 23700-23800 levels. Important Supports for the day is around 23300 However if index sustains below 23300 then it may witness profit booking which would take the index towards 23200-23100 levels.

Please refer disclaimer at https://jainam.in/
SEBI Registration No.: INZ000198735, Research Analyst: INH000006448, PMS: INP000006785