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Nifty

Nifty opened with an upward gap but witnessed sideways movement for most part of the day. However buying momentum in the second half pulled index higher to end on a positive note. Nifty closed at 18726 with a gain of 127 points. On the daily chart the index has formed a long Bullish candle forming higher High-Low formation indicating positive bias. The chart pattern suggests that if Nifty crosses and sustains above 18750 level it would witness buying which would lead the index towards 18800-18900 levels. Important Supports for the day is around 18630 However if index sustains below 18630 then it may witness profit booking which would take the index towards 18530-18460 levels.

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

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