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Nifty

Nifty opened with an upward gap and remained lackluster within narrow trading range throughout the day. Nifty closed at 17853 with a gain of 30 points. On the daily chart the index has formed a small Bearish candle with shadows on either side indicating indecisiveness amongst 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 17950 level it would witness buying which would lead the index towards 18000-18200 levels. Important Supports for the day is around 17820 However if index sustains below 17820 then it may witness profit booking which would take the index towards 17646-17520 levels.

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