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Nifty

Nifty opened with a downward gap however buying momentum at lower levels pulled index higher to end positive. Nifty closed at 17503 with a gain of 87 points. On the daily chart index has formed a small bullish candle carryinge it herside shadows representing volatility however it has formed a lower High-Low compare to previous session which remains a negative sign. The chart pattern suggests that if Nifty crosses and sustains above 17550 level it would witness buying which would lead the index towards 17680-17750 levels. Important Supports for the day is around 17220 However if index sustains below 17220 then it may witness profit booking which would take the index towards 17150-17000 levels.

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

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