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Nifty

Nifty opened with an upward gap and remained lackluster within narrow trading range throughout the day. Nifty closed at 14676 with a loss of 306 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 14635 level it would witness selling which would lead the index towards 14500- 14470 levels. However if index crosses above 14800 level it would witness pullback rally which would take the index towards 14920- 15000.

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

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