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Nifty

Nifty opened with an upward gap but witnessed selling from the opening tick to end negative. Nifty closed at 14721 with a loss of 189 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 14700 level it would witness selling which would lead the index towards 14620-14467 levels. However if index crosses above 14950 level it would witne ss pullback rally which would take the index towards 15050-15190.

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

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