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Nifty

Nifty opened with a gapdown and selling led the index downwards to end in red. Nifty closed at 15209 with a loss of 105 points. On the daily chart the index has formed a Bearish candle forming lower High- Low compare to previous session indicating negative bias. The chart pattern suggests that if Nifty crosses and sustains above 15314 level it would witness buying which would lead the index towards 15500- 15550 levels. However if index breaks below 15170 level it would witness selling which would take the index towards 15081-14970

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SEBI Registration No.: INZ000198735, Research Analyst: INH000006448, PMS: INP000006785

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