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Nifty

Nifty opened with an upward gap and remained in positive terrain throughout the day. Nifty closed at 18972 with a gain of 155 points. On the daily chart the index has formed a long Bullish candle forming higher High-Low formation indicating positive bias. The chart pattern suggests that if Nifty breaks and sustains below 18900 level it would witness selling which would lead the index towards 18800-18700 levels. However if index crosses above 19015 level it would witness pullback rally which would take the index towards 19050-19100

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

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