IGI Logo

Nifty

Nifty opened with a downward gap but witnessed buying from the opening tick to end near the day's high. Nifty closed at 22498 with again of 38 points. On the daily chart index has formed a bullish candle however it has continued to form lower High-Low compare to previoussessionindicating negative sign. The chart pattern suggests that if Nifty crosses and sustains above 22520 level it would witness buying whichwouldlead the index towards 22600-22700 levels. Important Supports for the day is around 22300 However if index sustains below 22300 then it may witness profit booking which would take the index towards 22250-22050 levels.

Please refer disclaimer at https://jainam.in/
SEBI Registration No.: INZ000198735, Research Analyst: INH000006448, PMS: INP000006785