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Nifty

Nifty opened on a positive note and extended buying momentum in the first half however selling in the second half led the index lower toclosenear day's low. Nifty closed at 25797 with a loss of 14 points. On the daily chart the index has formed a Bearish candle with a long upper shadowindicating selling at higher levels. The chart pattern suggests that if Nifty breaks and sustains below 24980 level it would witness sellingwhichwould lead the index towards 24900-24800 levels. However if index crosses above 25000 level it would witness pullback rally whichwouldtakethe index towards 25100-25250

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