Nifty Slides After Gap-Down Opening Amid Sustained Selling - Jainam
Nifty
Nifty opened with a downward gap and selling pressure throughout the session dragged it lower to end negative. Nifty closed at 23063 with a loss of 384 points. On the daily chart the index has formed a long Bearish candle forming lower High-Low compare to previous session indicating negative bias. The chart pattern suggests that if Nifty breaks and sustains below 23040 level it would witness selling which would lead the index towards 22950-22900 levels. However if index crosses above 23200 level it would witness pullback rally which would take the index towards 23260-23350
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Quote on NSE listing by Ajay Garg, Director & CEO, SMC Global Securities
