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Nifty

Nifty opened with downward gap and extended its down move in initial hours making day low around 19317. However buying support at lower levels recovered most of the earlier losses to end on a flat note. Nifty closed at 19465 with a gain of 30 points. On the daily chart index has formed a small bullish candle carrying lower shadow indi cating buying support at lower levels. The chart pattern suggests that if Nifty crosses and sustains above 19500 level it would witness buying which would lead the index towards 19560-19600 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 19250-19200 levels.

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

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