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Nifty

Nifty opened with an upward gap and remained in positive terrain throughout the day. Nifty closed at 23658 with a gain of 308 points. On the daily chart the index has formed a long Bullish candle forming higher High-Low formation indicating positive bias. The chart pattern suggests that if Nifty crosses and sustains above 23700 level it would witness buying which would lead the index towards 23850-24000 levels. Important Supports for the day is around 23500 However if index sustains below 23500 then it may witness profit booking which would take the index towards 23400-23300 levels.

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