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Nifty

Nifty opened on a flat note but selling led the index downwards to end near the low of the day. Nifty closed at 14372 with a loss of 218 points. On the daily chart index has formed a small bearish candle forming lower High-Low compare to previous session and has closed below previous session's low indicating negative bias. The chart pattern suggests that if Nifty crosses and sustains above 14620 level it would witness buying which would lead the index towards 14705-14750 levels. Important Supports for the day is around 14350 However if index sustains below 14350 then it may witness profit booking which would take the index towards 14260-14120 levels.

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

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