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Nifty

Nifty opened on a negative note and witnessed extreme volatility on either side for most part of the session. However later hour buying momentum pulled index higher to end on a flat note. Nifty closed at 22303 with a loss of 0 points. On the daily chart index has formed a bullish candle however it has continue to form lower High-Low compare to previous session indicating negative sign. The chart pattern suggests that if Nifty breaks and sustains below 22200 level it would witness selling which would lead the index towards 22100-22000 levels. However if index crosses above 22400 level it would witness pullback rally which would take the index towards 22500-22550.

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