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Nifty

Nifty opened with a downward gap however buying momentum at lower levels pulled index higher to end near day's high. Nifty closed at 15812 with a gain of 13 points. On the daily chart the index has formed a Hanging Mancandle stick formation indicating indecisiveness amongst mar ket pa rti c ipants regarding the direction. The chart pattern suggests that if Nifty crosses and sustains above 15835 level it would witness buying which would lead the index towards 15880- 15920 levels. Important Supports forthe day is around 15600 However if index sustains below 15600 then it may witness profit booking which would take the index towards 15560-15450 levels.

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

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