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Nifty opened with a downward gap and traded with extreme volatility on either side to end on negative note. Nifty closed at 22553withagainof 8 points. On the daily chart index has formed a bullish candle carrying both side shadows however it has continued to formHigher High-Lowformation indicating positive bias. The chart pattern suggests that if Nifty crosses and sustains above 22630 level it would witness buyingwhichwould lead the index towards 22700-22800 levels. Important Supports for the day is around 22460 However if index sustains below22460thenit may witness profit booking which would take the index towards 22400-22300 levels.

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