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Nifty

Nifty opened with an upward gap and remained in positive terrain throughout the day . Nifty closed at 22520 with a gain of 289 points . On the daily chart, the index has formed a Bullish Harami pattern, where a small bullish candle is entirely contained within the range of the previous larger bearish candle, signaling a potential reversal . For confirmation of this pattern, a break above the previous day's high would indicate a shift in trend to the upside . The chart pattern suggests that if Nifty breaks and sustains below 22400 level it would witness selling which would lead the index towards 22300 - 22180 levels . However if index crosses above 22600 level it would witness pullback rally which would take the index towards 22660 - 22800 .

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