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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 15774 with a loss of 427 points. On the daily chart index has formed a sizable bearish candle and has closed below past couple of session's low which signals weakness ahead. The chart pattern suggests that if Nifty crosses and sustains above 15900 level it would witness buying which would lead the index towards 16 0 0 0 -1 6 2 0 0 l evels. Important Supports for the day is around 15700 However if index sustains below 15700 then it may witness profit booking which would take the index towards 15600-15500 levels.

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

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