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Nifty

Nifty opened on a flat note but buying led the index upwards to end near the high of the day. Nifty closed at 17915 with a gain of 101 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 crosses and sustains above 17932 level it would witness buying which would lead the index towards 18000-18100 levels. Important Supports for the day is around 17790 However if index sustains below 17790 then it may witness profit booking which would take the index towards 17700-17600 levels.

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

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