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Nifty

Nifty opened with downward gap and extended its down move in initial hours making day low around 19316. However buying support at lower levels recovered most of the earlier losses to end on a flat note. Nifty closed at 19435 with a gain of 6 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 19510 level it would witness buying which would lead the index towards 19600-19650 levels. Important Supports for the day is around 19315 However if index sustains below 19315 then it may witness profit booking which would take the index towards 19240-19200 levels.

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

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