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Nifty

Nifty opened on a positive note and extended buying momentum in the first half however selling pressure in the second half led the index lower to close near day's low. Nifty closed at 15119 with a loss of 90 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 crosses and sustains above 15260 level it would witness buying which would lead the index towards 15314-15430 levels. However if index breaks below 15080 level it would witness selling which would take the index towards 14970-14860.

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

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