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Nifty

Nifty opened with downward gap and selling pressure throughout the session led it to close near day's low. Nifty closed at 14691 with a loss of 154 points. On the daily chart Nifty has formed a bearish candle and r ema i n e d r e stri c t e d w it h i n previous session's High-Low range indicating absence of direction on eitherside. The chart pattern suggests that if Nifty breaks and sustains below 14700 level it would witness selling which would lead the index towards 14617-14500 levels. However if index crosses above 14815 level it would witness pullback rally which would take the index towards 14880-14950.

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

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