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Nifty

Nifty opened on a flat note and witnessed selling pressure in the initial half of the day. However later hour buying led index to endonapositivenote.. Nifty closed at 24456 with a gain of 117 points. On the daily chart the index has formed a small Bullish candle carrying long lower shadowindicating buying support at lower levelsThe chart pattern suggests that if Nifty crosses and sustains above 24500 level it would witnessbuyingwhich would lead the index towards 24600-24650 levels. Important Supports for the day is around 24100 However if index sustains below24100then it may witness profit booking which would take the index towards 24000-23900 levels.

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