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Nifty

Nifty opened on a flat note and witnessed extreme volatility on either side for most part of the session. However later hour buying momentum pulled index higher to end in green. Nifty closed at 17081 with a gain of 129 points. On the daily chart the index has formed a small bullish candle forming higher High-Low formation compare to previous session indicating positive bias. The chart pattern suggests that if Nifty breaks and sustains below 16950 level it would witness selling which would lead the index towards 16900-16800 levels. However if index crosses above 17150 level it would witness pullback rally which would take the index towards 17200-17250

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

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