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Nifty

Nifty opened with a downward gap however buying momentum at lower levels pulled index higher to end near day's high. Nifty closed at 22147 with a gain of 151 points. On the daily chart the index has formed a long bullish candle after continuous lower lows in l a s t f o u r s e s s i o n s indicating buying support at lower levels. The chart pattern suggests that if Nifty crosses and sustains above 22200 level it would witness buying which would lead the index towards 22250-22300 levels. Important Supports for the day is around 22100 However if index sustains below 22100 then it may witness profit booking which would take the index towards 22050-22000 levels.

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