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Nifty

Nifty opened with an upward gap and remained lackluster within narrow trading range throughout the day. Nifty closed at 24006 with a gain of 140 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 crosses and sustains above 24050 level it would witness buying which would lead the index towards 24150-24250 levels. Important Supports for the day is around 23830 However if index sustains below 23830 then it may witness profit booking which would take the index towards 23750-23680 levels.

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