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Nifty

Nifty opened with a downward gap however buying momentum at lower levels pulled index higher to end near day's high. Nifty closed at 21840 with a gain of 97 points. On the daily chart the index has formed a small Bullish candle carrying long lower shadow indicating buying support at lower levels. The chart pattern suggests that if Nifty crosses and sustains above 21950 level it would witness buying which would lead the index towards 22100-22150 levels. Important Supports for the day is around 21550 However if index sustains below 21550 then it may witness profit booking which would take the index towards 21500-21450 levels.

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