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Nifty

Nifty opened on a positive note and witnessed consolidation in initial hours. However buying momentum in second half lead index higher to close near the day's high. Nifty closed at 18132 with a gain of 118 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 breaks and sustains below 17960 level it would witness selling which would lead the index towards 17900-17800 levels. However if index crosses above 18150 level it would witness pullback rally which would take the index towards 18200-18250.

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

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