Nifty opened with a downward gap and selling pressure throughout the session dragged it lower to end negative - Jainam Broking Ltd
Nifty
Nifty opened with a downward gap and selling pressure throughout the session dragged it lower to end negative. Nifty closed at 22331 with a loss of 488 points. On the daily chart the index has formed a bearish candle with shadows on either side representing extreme volatility as well as indecisiveness amongst participants regarding the direction. The chart pattern suggests that if Nifty breaks and sustains below 22300 level it would witness selling which would lead the index towards 22180-22100 levels. However, if index crosses above 22550 level it would witness pullback rally which would take the index towards 22710-22820.
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SEBI Registration No.: INZ000198735, Research Analyst: INH000006448, PMS: INP000006785
