The chart pattern suggests that if Nifty breaks and sustains below 22400 level it would witness selling which would lead the index towards 22300-22250 levels - Jainam Share Consultants
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
Nifty
Nifty opened with an downward gap and selling pressure throughout the session dragged it lower to end near lowest point of the day. Nifty closed at 22489 with a loss of 216 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 breaks and sustains below 22400 level it would witness selling which would lead the index towards 22300-22250 levels. However if index crosses above 22700 level it would witness pullback rally which would take the index towards 22800-23000.
Please refer disclaimer at https://jainam.in/
SEBI Registration No.: INZ000198735, Research Analyst: INH000006448, PMS: INP000006785
Tag News
Weekly Market Wrap by Amol Athawale, VP-Technical Research, Kotak Securities
