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Nifty

Nifty opened with an upward gap but witnessed selling from the opening tick to end near the day's low. Nifty closed at 21718 with a loss of 213 points. On the daily chart index has formed a bearish candle forming lower High-Low compare to previous session and ha s c los ed below prev ious session's low indicating negative bias. The chart pattern suggests that if Nifty breaks and sustains below 21650 level it would witness selling which would lead the index towards 21600-21550 levels. However if index crosses above 21850 level it would witness pullback rally which would take the index towards 21900-22000.

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