Nifty opened with an flat note and witnessed consolidation for most part of the session - Jainam Share Consultants
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Nifty
Nifty opened with an flat note and witnessed consolidation for most part of the session. However last hour pullback action pulled index higher to close positive. Nifty closed at 25152 with a gain of 100 points. On the daily chart the index has formed a small bullish candle forming higher High-Low formation compare to previous session indicating positive bias. The chart pattern suggests that if Nifty crosses and sustains above 25200 level it would witness buying which would lead the index towards 25300-25500 levels. Important Supports for the day is around 25000 However if index sustains below 25000 then it may witness profit booking which would take the index towards 24900-24850 levels
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SEBI Registration No.: INZ000198735, Research Analyst: INH000006448, PMS: INP000006785
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Weekly Note by Mr. Ajit Mishra, SVP - Research, Religare Broking Ltd
