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Nifty

Nifty opened on a flat note and witnessed profit booking in initial half however buying momentum at lower levels pulled index higher to close off from day’s low. Nifty closed at 21666 with a loss of 76 points. On the daily chart the index has formed a Bearish candle with long lower shadow indicating buying support at lower levels. The chart pattern suggests that if Nifty crosses and sustains above 21760 level it would witness buying which would lead the index towards 21850- 21900 levels. Important Supports for the day is around 21550 However if index sustains below 21550 then it may witness profit booking which would take the index towards 21500-21400 levels.

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