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Nifty

Nifty opened with a downward gap and traded with extreme volatility on either side to end on negative note. Nifty closed at 14341 with a loss of 65 points. On the daily chart the index has formed a bearish candle with long upper shadow indicating selling pressure as well as resistance at higher levels. The chart pattern suggests that if Nifty breaks and sustains below 14250 level it would witness selling which would lead the index towards 14190-14131 levels. However if index crosses above 14460 level it would witness pullback rally which would take the index towards 14585-14670.

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

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