On the daily chart index has formed a small bearish candle representing resistance at higher levels

2026-05-08 09:19:18 am | Source: Jainam Broking Limited

On the daily chart index has formed a small bearish candle representing resistance at higher levels - Jainam Broking Ltd

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Nifty

Nifty opened with an upward gap and remained lackluster within narrow trading range throughout the day. Nifty closed at 24327 with a loss of 4 points. On the daily chart index has formed a small bearish candle representing resistance at higher levels. The chart pattern suggests that if Nifty crosses and sustains above 24400 level it would witness buying which would lead the index towards 24450-24500 levels. Important Supports for the day is around 24280 However if index sustains below 24280 then it may witness profit booking which would take the index towards 24200-24100 levels.

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On the daily chart index has formed a small bearish candle representing resistance at higher levels - Jainam Broking Ltd

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