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Nifty

Nifty opened on a flat note but buying led the index upwards to end in the green. Nifty closed at 14645 with a gain of 124 points. On the daily chart the index has formed a long Bullish candle fo rmi n g h i g h e r Hi g h - L ow formation indicating positive bias. The chart pattern suggests that if Nifty crosses and sustains above 14670 level it would witness buying which would lead the index towards 14705- 1 4 7 5 0 l e v e ls. I m p o rt a n t Supports for the day is around 14500 However if index sustains b e l ow 1 4 5 0 0 t h e n it ma y witness profit booking which would take the index towards 14350-14220 levels.

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

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