The chart pattern suggests that if Nifty crosses and sustains above 18670 level - Jainam Share Consultants
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Nifty
Nifty opened on a flat note but selling led the index downwards to end in red. Nifty closed at 18561 with a loss of 82 points. On the daily chart the index has formed a small Bearish candle with shadows on either side indicating indecisiveness amongst participants regarding the direction. The chart pattern suggests that if Nifty crosses and sustains above 18670 level it would witness buying which would lead the index towards 18730-18800 levels. However if index breaks below 18500 level it would witness selling which would take the index towards 18450-18400.
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