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Nifty

Nifty opened with a downward gap and traded with extreme volatility on either side to end on negative note. Nifty closed at 22356 with a loss of 49 points. On the daily chart the index has formed a "Doji " candlesti ck formation indicating indecisiveness amongst market participants regarding the direction. The chart pattern suggests that if Nifty crosses and sustains above 22420 level it would witness buying which would lead the index towards 22480-22520 levels. Important Supports for the day is around 22270 However if index sustains below 22270 then it may witness profit booking which would take the index towards 22200-22100 levels.

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