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Nifty

Nifty opened with an downward gap and selling pressure throughout the session dragged it lower to end near lowest point of the day . Nifty closed at 21517 with a loss of 148 points. On the daily chart index has formed a small bearish candle forming lower High-Low compare to previous session and has closed below previous session's low indicating negative bias. The chart pattern suggests that if Nifty breaks and sustains below 21500 level it would witness selling which would lead the index towards 21400-21300 levels. However if index crosses above 21680 level it would witness pullback rally which would take the index towards 21750-21800

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