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Nifty opened with an upward gap and traded positive in initial half. However profit booking in second half erased most of the earlier gains which led index to close on negative note. Nifty closed at 22643 with a loss of 24 points. On the daily chart index has formed a sma l l b e a ris h c a n d l e representing resistance at higher levels. The chart pattern suggests that if Nifty crosses and sustains above 22750 level it would witness buying which would lead the index towards 22800-22900 levels. Important Supports for the day is around 22600 However if index sustains below 22600 then it may witness profit booking which would take the index towards 22500-22400 levels.

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