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Nifty

Nifty opened with an upward gap but witnessed selling from the opening tick to end negative. Nifty closed at 18308 with a loss of 36 points. On the daily chart the index has formed a Bearish candle with long lower shadow indicating buying support at lower levels. The chart pattern suggests that if Nifty crosses and sustains above 18450 level it would witness buying which would lead the index towards 18500-18550 levels. However if index breaks below 18150 level it would witness selling which would take the index towards 18150-18000.

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

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