Page 268 - IMDR JOURNAL 2023-24

IMDR’s Journal of Management Development & Research 2023-24

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Image 5 (Primary Source)
Now let’s look at the Gift Nifty futures chart.
Previous % Gap up / Gap
Date Opening Closing RSI
Closing Change Down
30-12-2023 20130 20133 20141 -0.04% 70.22 -11
01-12-2023 20307 20353 20133 1.09% 75.55 174
04-12-2023 20594 20831 20353 2.35% 82.78 241
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Table 8: Gift Nifty Futures from 30 November till 4 December. (Primary Source)

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Image 6 (Primary Source)
In Gift Nifty the candle on the 01 December formed an inverted hammer and the next day the
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on 4 December the opening was positive 241 points. The RSI goes above the level of 70 in
both indices.
Here in this chart, we can observe that the Nifty 50 spot index is a mover for Gift Nifty

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