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NIFTY

NIFTY began session on flat note and gained buying momentum in initial half however around 21480 levels selling pressure erased all the earlier gain which led it to close in red. Nifty closed at 21419 with a loss of 38 points. On the daily chart the index has formed a "Doji" candlestick formation indicating indecisiveness amongst market participants regarding the direction. The chart pattern suggests that if Nifty crosses and sustains above 21500 level it would witness buying which would lead the index towards 2160 0 -2 1 6 5 0 l evels. Important Supports for the day is around 21300 However if index sustains below 21300 then it may witness profit booking which would take the index towards 21250-21200 levels.

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