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Nifty

Nifty opened on a flat note and witnessed selling pressure in the initial half of the day. However later hour buying led index to end on a positive note. Nifty closed at 20133 with a gain of 37 points. On the daily chart the index has formed a small Bullish candle carrying long lower shadow indicating buying support at lower levels. The chart pattern suggests that if Nifty crosses and sustains above 20160 level it would witness buying which would lead the index towards 20200-20250 levels. Important Supports for the day is around 20000 However if index sustains below 20000 then it may witness profit booking which would take the index towards 19950-19900 levels.

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