On the daily chart the index has formed a Bearish candle with a long upper shadow indicating selling at higher levels - Jainam Share Consultants
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Nifty
Nifty opened with a downward gap and witnessed pullback rally at lower levels however selling pressure at higher levels dragged index to close in negative territory. Nifty closed at 19751 with a loss of 43 points. On the daily chart the index has formed a Bearish candle with a long upper shadow indicating selling at higher levels. The chart pattern suggests that if Nifty crosses and sustains above 19820 level it would witness buying which would lead the index towards 1990 0 -2 0 0 0 0 l evels. Important Supports for the day is around 19680 However if index sustains below 19680 then it may witness profit booking which would take the index towards 19600-19500 levels.
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SEBI Registration No.: INZ000198735, Research Analyst: INH000006448, PMS: INP000006785
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