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Nifty

Nifty opened on a positive note and extended 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 15811 with a loss of 25 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 crosses and sustains above 16025 level it would witness buying which would lead the index towards 16100-16200 levels. Important Supports for the day is around 15785 However if index sustains below 15785 then it may witness profit booking which would take the index towards 15660-15500 levels.

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

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