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Nifty

Nifty opened with a negative note and remained lackluster within narrow trading range throughout the day. Nifty closed at 24247withalossof82 points. On the daily chart the index has formed a small Bearish candle with shadows on either side indicating indecisiveness amongstparticipants regarding the direction. The chart pattern suggests that if Nifty crosses and sustains above 24350 level it would witnessbuyingwhich would lead the index towards 24400-24500 levels. Important Supports for the day is around 24200 However if index sustainsbelow24200 then it may witness profit booking which would take the index towards 24100-24000 levels.

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