The chart pattern suggests that if Nifty crosses and sustains above 17850 level - Jainam Share Consultants
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Nifty
Nifty opened on a flat note and witnessed profit booking in initial half however buying momentum at lower levels pulled index higher to close in positive territory. Nifty closed at 17828 with a gain of 16 points. On the daily chart the index has formed a small Bullish candle carrying long lower shadow indicating buying support at lower levels. The chart pattern suggests that if Nifty crosses and sustains above 17850 level it would witness buying which would lead the index towards 17900-17950 levels. Important Supports for the day is around 17700 However if index sustains below 17700 then it may witness profit booking which would take the index towards 17655-17600 levels.
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