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Nifty

Nifty opened with an upward gap but witnessed selling from the opening tick to end negative. On the daily chart the index has formed a small be a rish candle with shadows on either side representing extreme volatility as well as indecisiveness amongst participants regarding the direction. The chart pattern suggests that if Nifty breaks and sustains below 17850 level it would witness selling which would lead the index towards 17800-17750 levels. However if index sustain above 18000 level it would witness pullback rally which would take the index towards 18150-18200.

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

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