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Nifty

Nifty opened on a flat note and witnessed profit booking in initial half, however in last hour, buying momentum at lower levels pulled index higher to close on a flat basis. Nifty closed at 18599 with a gain of 5 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 18625 level it would witness buying which would lead the index towards 18700-18800 levels. Important Supports for the day is around 18530 However if index sustains below 18530 then it may witness profit booking which would take the index towards 18480-18400 levels

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

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