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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 19812 with a gain of 28 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 19850 level it would witness buying which would lead the index towards 19900-20000 levels. Important Supports for the day is around 19700 However if index sustains below 19700 then it may witness profit booking which would take the index towards 19650-19600 levels.

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