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Nifty

Nifty opened with an upward gap and remained in positive terrain throughout the day. Nifty closed at 19783 with a gain of 89 points. On the daily chart the index has formed a small Bullish candle with upper shadow indicating selling pressure as well as resistance at higher levels. The chart pattern suggests that if Nifty crosses and sustains above 19800 level it would witness buying which would lead the index towards 19900-20000 levels. Important Supports for the day is around 19750 However if index sustains below 19750 then it may witness profit booking which would take the index towards 19700-19600 levels.

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