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Nifty

Nifty opened on a flat note and remained in a small range throughout the day. Nifty closed at 23519 with a loss of 73 points. On the daily chart the index has formed a small Bearish candle with shadows on either side indicating indecisiveness amongst participants regarding the direction.The chart pattern suggests that if Nifty crosses and sustains above 23650 level it would witness buying which would lead the index towards 23750-23850 levels. Important Supports for the day is around 23450 However if index sustains below 23450 then it may witness profit booking which would take the index towards 23400-23280 levels.

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