However if index crosses above 19430 level it would witness pullback rally which would take the index towards 19500-19600 - Jainam Share Consultants
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Nifty
Nifty opened with an upward gap and remained lackluster within narrow trading range throughout the day. Nifty closed at 19407 with a loss of 5 points. On the daily chart the index has formed a Bullish candle with a long lower shadow indicating buying at lower levels. The cha rt pattern suggests that if Nifty breaks and sustains below 19300 level it would witness selling which would lead the index towards 19200-19100 levels. However if index crosses above 19430 level it would witness pullback rally which would take the index towards 19500-19600.
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SEBI Registration No.: INZ000198735, Research Analyst: INH000006448, PMS: INP000006785
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Post market comment by Mandar Bhojane, Research Analyst, Choice Broking
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