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Nifty

Nifty opened on a positive note and selling pressure throughout the session dragged it lower to close in negative territory. Nifty closed at 17063 with a loss of 29 points. On the daily chart index has formed a small bearish candle representing resistance at hi gher levels.The cha rt pattern suggests that if Nifty crosses and sustains above 17220 level it would witness buying which would lead the index towards 17300-17350 levels. Important Supports for the day is around 17000 However if index sustains below 17000 then it may witness profit booking which would take the index towards 16900-16800 levels.

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