Nifty Slides Amid Broad Selling - Jainam
Nifty
Nifty opened with a downward gap and selling pressure throughout the session dragged it lower to end negative. Nifty closed at 23996 with a loss of 191 points. On the daily chart the index has formed a long Bearish candle forming lower High-Low compare to previous session indicating negative bias. The chart pattern suggests that if Nifty crosses and sustains above 24100 level it would witness buying which would lead the index towards 24200-24300 levels. Important Supports for the day is around 23960 However if index sustains below 23960 then it may witness profit booking which would take the index towards 23925-23800 levels.
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SEBI Registration No.: INZ000198735, Research Analyst: INH000006448, PMS: INP000006785
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