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Nifty

Nifty opened on a flat note but selling led the index downwards to end in red. Nifty closed at 13968 with a loss of 271 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 13929 level it would witness selling which would lead the index towards 13811-13770 levels. However if index crosses above 14170 level it would witness pullback rally which would take the index towards 14240-14413.

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

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