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Nifty

Nifty opened on a positive note and witnessed consolidation in initial hours. However buying momentum in second half lead index higher to close near the day's high. Nifty closed at 19189 with a gain of 217 points. On the daily chart the index has formed a bullish candle forming higher High-Low formation compare to previous session indicating positive bias. The chart pattern suggests that if Nifty breaks and sustains below 19050 level it would witness selling which would lead the index towards 19000-18900 levels. However if index crosses above 19200 level it would witness pullback rally which would take the index towards 19250-19300.

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

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