The chart pattern suggests that if Nifty breaks and sustains below 19540 level - Jainam Share Consultants
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Nifty
Nifty opened on a flat note and witnessed selling pressure in the initial half of the day. However later hour buying led index to end on a positive note. Nifty closed at 19716 with a gain of 52 points. On the daily chart the index has formed a small Bullish candle carrying long lower shadow indicating buying support at lower levels. The chart pattern suggests that if Nifty breaks and sustains below 19540 level it would witness selling which would lead the index towards 19500-19450 levels. However if index crosses above 19750 level it would witness pullback rally which would take the index towards 19850-19900.
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SEBI Registration No.: INZ000198735, Research Analyst: INH000006448, PMS: INP000006785
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