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Nifty

Nifty opened on a flat note and remained in a small range throughout the day. Nifty closed at 24275 with a gain of 80 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 24360 level it would witness buying which would lead the index towards 24450-24500 levels. Important Supports for the day is around 24120 However if index sustains below 24120 then it may witness profit booking which would take the index towards 24050-24000 levels.

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