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Nifty

Nifty opened with a positive note but witnessed sideway movement in the first hour. However selling in the second half led the index lower to close near day's low. Nifty closed at 24271 with a gain of 95 points. On the daily chart index has formed bearish candle but it manage to form higher High-Low compare to previous session indicating positive bias. The chart pattern suggests that if Nifty crosses and sustains above 24380 level it would witness buying which would lead the index towards 24450-24500 levels. Important Supports for the day is around 24250 However if index sustains below 24250 then it may witness profit booking which would take the index towards 24180-24100 levels.

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