However if index crosses above 17900 level it would witness pullback rally which would take the index towards 18000-18050 - Jainam Share Consultants
Nifty
Nifty opened on a flat note but selling led the index downwards to end in red. Nifty closed at 17859 with a loss of 133 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 17750 level it would witness selling which would lead the index towards 17700-17650 levels. However if index crosses above 17900 level it would witness pullback rally which would take the index towards 18000-18050
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