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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 near the day's low.. Nifty closed at 15752 with a loss of 171 points. On the daily chart the index has formed a D o j i c a n d l e st i c k f o r m a t i o n indicating indecisiveness amongst market participants regarding the d ire c ti o n . T h e c h a rt p a tte r n suggests that if Nifty crosses and sustains above 15850 level it would witness buying which would lead the index towards 15962-16000 levels. Important Supports for the day is around 15700 However if index sustains below 15700 then it may witness profit booking which would take the index towards 15630-15600 levels.

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

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