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Nifty

Nifty opened on a positive note and witnessed buying momentum in initial hours. However selling pressure at higher levels dragged it lower to close on flat note . Nifty closed at 24812 with a gain of 41 points. On the daily chart index has formed a small bearish candle representing resistance at higher levels. The chart pattern suggests that if Nifty crosses and sustains above 24870 level it would witness buying which would lead the index towards 24950-25000 levels. Important Supports for the day is around 24780 However if index sustains below 24780 then it may witness profit booking which would take the index towards 24600-24500 levels.

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