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Nifty

Nifty opened on a flat note and witnessed selling pressure in initial hours. However it has remained lackluster within narrowrangethroughoutthe session. Nifty closed at 25797 with a loss of 14 points. On the daily chart the index has formed a "Doji" candlestick formationindicatingindecisiveness amongst market participants regarding the direction. The chart pattern suggests that if Nifty breaks and sustains below25740level it would witness selling which would lead the index towards 25700-25600 levels. However if index crosses above 25900 level it wouldwitness pullback rally which would take the index towards 26000-26100

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