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Nifty

Nifty opened with an downward gap and selling pressure throughout the session dragged it lower to end near lowest point of the day. Nifty closed at 21817 with a loss of 238 points. On the daily chart index has formed a small 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 21790 level it would witness selling which would lead the index towards 21700-21600 levels. However if index crosses above 22000 level it would witness pullback rally which would take the index towards 22125-22200.

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