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Nifty

Nifty opened with an downward gap and selling pressure throughout the session dragged it lower to end near lowest point of the day . Nifty closed at 14529 with a loss of 568 points. On the daily chart the index has formed a long Bearish candle forming lower High-Low compare to previous session indicating negative bias. The chart pattern suggests that if Nifty breaks and sustains below 14460 level it would witness selling which would lead the index towards 14336-14275 levels. However if index crosses above 14700 level it would witne ss pullback rally which would take the index towards 14900-15000.

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

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