IGI Logo

Nifty

Nifty opened on a flat note but witnessed buying momentum in the first half however selling in the second half led the index lower toclosenear day's low. Nifty closed at 26142 with a loss of 35 points. On the daily chart the index has formed a small Bearish candle withupper shadowindicating selling pressure as well as resistance at higher levels. The chart pattern suggests that if Nifty crosses and sustains above26240level itwould witness buying which would lead the index towards 26300-26350 levels. Important Supports for the day is around 26120Howeverifindex sustains below 26120 then it may witness profit booking which would take the index towards 26060-25950 levels.

Please refer disclaimer at https://jainam.in/
SEBI Registration No.: INZ000198735, Research Analyst: INH000006448, PMS: INP000006785