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NIfty

Nifty opened on a positive note and extended buying momentum in the first half however selling in the second half led the index lower to close near day's low. Nifty closed at 19347 with a gain of 5 points. On the daily chart index has formed a sizable bearish candle indicating negative bias. The chart pattern suggests that if Nifty breaks and sustains below 19300 level it would witness selling which would lead the index towards 19230-19100 levels. However if index crosses above 19450 level it would witness pullback rally which would take the index towards 19500-19600.

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

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