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Nifty

Nifty opened with an downward gap and remained lackluster within narrow trading range throughout the day. Nifty closed at 22514 with a loss of 1 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 22550 level it would witness buying which would lead the index towards 22650-22700 levels. Important Supports for the day is around 22400 However if index sustains below 22400 then it may witness profit booking which would take the index towards 22300-22200 levels.

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