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Nifty

Nifty opened with a downward gap and witnessed pullback rally at lower levels however selling pressure at higher levels dragged index to close in negative territory . Nifty closed at 19671 with a loss of 140 points. On the daily chart the index has formed a long Bearish candle forming lower High-Low compare to previous session indicating negative bias. The chart pattern suggests that if Nifty breaks and sustains below 19650 level it would witness selling which would lead the index towards 19600-19500 levels. However if index crosses above 19850 level it would witness pullback rally which would take the index towards 19900-20000.

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