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Nifty

Nifty opened with a huge upward gap in effect of reduced Tariffs on India but witnessed selling momentum in initial hours. However, it has remained lackluster within narrow trading range throughout the session. Nifty closed at 25728 with a gain of 639 points. On the daily chart index has formed a bearish candle however it manage to maintain higher High-low compare to previous session indicating positive bias. The chart pattern suggests that if Nifty crosses and sustains above 25850 level it would witness buying which would lead the index towards 25900- 26000 levels. Important Supports for the day is around 25670 However if index sustains below 25670 then it may witness profit booking which would take the index towards 25500-25600 levels.

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