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

2025-02-06 11:10:21 am | Source: Jainam Share Consultants

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

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Nifty Technical View

Nifty opened on flat note and selling pressure from opening tick dragged index lower to close near day's low. Nifty closed at 23696withalossof43 points. On the daily chart index has formed a small bearish candle representing resistance at higher levels. The chart pattern suggeststhatifNifty crosses and sustains above 25800 level it would witness buying which would lead the index towards 23920-24000 levels. ImportantSupports for the day is around 23680 However if index sustains below 23680 then it may witness profit booking which wouldtaketheindextowards 23600-23500 levels.

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

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