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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 to close near day's low. Nifty closed at 21545 with a gain of 32 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 eitherside. The chart pattern suggests that if Nifty crosses and sustains above 21600 level it would witness buying which would lead the index towards 2170 0 -2 1 8 0 0 l evels. Important Supports for the day is around 21490 However if index sustains below 21490 then it may witness profit booking which would take the index towards 21450-21400 levels.

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