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Nifty

Nifty opened on a negative note and witnessed extreme volatality on eitherside for most part of the session. How ever laterh our buying momentum pulled index higher to end on a strong note. Nifty closed at 24414 with a loss of 66 points. On the daily chart the index has formed a "Doji" candlestick formation indicating indec isiveness among st mar ket participants regarding the direction. The chart pattern suggests that if Nifty breaks and sustains below 24300 level it would witness selling which would lead the index towards 24250-24100 levels. However if index crosses above 24500 level it would witness pullback rally which would take the index towards 24600-24650.

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