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Nifty

Nifty opened with an upward gap and witnessed selling in the initial hours. However, in the second half of the session, pullback action pulled index higher to close on flat note. Nifty closed at 18315 with a gain of 18 points. On the daily chart the index has formed a small Bullish candle carrying long lower shadow indicating buying support at lower levels. The chart pattern suggests that if Nifty crosses and sustains above 18350 level it would witness buying which would lead the index towards 18400-18500 levels. Important Supports for the day is around 18190 However if index sustains below 18190 then it may witness profit booking which would take the index towards 18100-18000 levels.

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

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