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Nifty

Nifty opened with an upward gap and remained in positive terrain throughout the day. Nifty closed at 14505 with a gain of 194 points. On the daily chart the index has formed a Bullish candle with a long lower shadow indicating buying at lower levels. The index is currently trading at upward sloping trendline. This can act as a make or break level for the index . The ch a rt p atte rn suggests that if Nifty crosses and sustains above 14530 level it would witness buying which would lead the index towards 14650-14780 levels. However if index breaks below 14250 level it would witness selling which would take the index towards 14000-13800.

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

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