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Nifty

Nifty opened on a flat note but selling led the index downwards to end in red. Nifty closed at 24668 with a loss of 100 points. On the daily chart index has formed a bearish candle however it remained restricted within previous session's High-Low range indicating absence of strength on either side. The chart pattern suggests that if Nifty crosses and sustains above 24800 level it would witness buying which would lead the index towards 24860-24980 levels. Important Supports for the day is around 24600 However if index sustains below 24600 then it may witness profit booking which would take the index towards 24500-24400 levels.

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