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Nifty

Nifty opened with an upward gap and traded positive in initial half. However profit booking in second half erased most of the earlier gains which led index to close on a flat note. Nifty closed at 15109 with a loss of 7 points. On the daily chart the index has formed a smal l 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 15256 level it would witness buying which would lead the index towards 15300-15320 levels. However if index breaks below 15040 level it would witness selling which would take the index towards 14942-14864

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

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