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Nifty

Nifty opened with a downward gap and traded with extreme volatility on either side to end negative. Nifty closed at 17207 with a loss of 70 points. On the daily chart the index has formed a "Doji" candlestick formation indicating indecisiveness amongst market participants regarding the direction. The chart pattern suggests that if Nifty crosses and sustains above 17350 level it would witness buying which would lead the index towards 17 5 0 0 -1 7 6 0 0 l evels. Important Supports for the day is around 17070 However if index sustains below 17070 then it may witness profit booking which would take the index towards 17000-16800 levels.

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

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