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Nifty

Nifty opened with an upward gap and remained lackluster within narrow trading range throughout the day. Nifty closed at 19778 with a gain of 98 points. On the daily chart the index has formed a small Bullish candle with upper shadow indicating selling pressure as well as resistance at higher levels. The chart pattern suggests that if Nifty crosses and sustains above 19830 level it would witness buying which would lead the index towards 1990 0 -2 0 0 0 0 l evels. Important Supports for the day is around 19700 However if index sustains below 19700 then it may witness profit booking which would take the index towards 19600-19500 levels.

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

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