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Nifty

Nifty opened with a downward gap however buying momentum at lower levels pulled index higher to end near day's high. Nifty closed at 14744 with a gain of 186 points. On the daily chart the index has formed a Bullish candle with a long lower shadow indicating buying at lower levels. The chart pattern suggests that if Nifty breaks and sustains below 14500 level it would witness selling which would lead the index towards 14340-14300 levels. However if index crosses above 14790 level it would witne ss pullback rally which would take the index towards 14875-15000.

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

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