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Nifty

Nifty opened with a downward gap and witnessed consolidation in initial hours. However last hour selling pressure in second half dragged index lower to close lower. Nifty closed at 15081 with a loss of 165 points. On the daily chart the index has formed a small Bullish candle with a long upper shadow indicating profit booking as well as selling pressure at higher levels. The chart pattern suggests that if Nifty crosses and sustains above 15200 level it would witness buying which would lead the index towards 15280-15350 levels. Important Supports for the day is around 14980 However if index sustains below 14980 then it may witness profit booking which would take the index towards 14760-14368 levels.

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

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