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Nifty

Nifty opened with an upward gap and remained lackluster within narrow trading range throughout the day. Nifty closed at 17936 with a gain of 103 points. On the daily chart the index has formed a small Bullish candle with upper shadow indicating selling pressure as well as resistance at higher levels. The chart pattern suggests that if Nifty crosses and sustains above 17992 level it would witness buying which would lead the index towards 18050-18115 levels. However if index breaks below 17890 level it would witness selling which would take the index towards 17800-17700.

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

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