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Nifty

Nifty opened on a negative note but seen 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 19332 with a loss of 166 points. On the daily chart the index has formed a Bearish candle with a long upper shadow indicating selling at higher levels. The chart pattern suggests that if Nifty breaks and sustains below 19300 level it would witness selling which would lead the index towards 19200-19100 levels. However if index crosses above 19400 level it would witness pullback rally which would take the index towards 19500-19550.

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

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