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Nifty

Nifty opened with an upward gap and remained lackluster within narrow trading range throughout the day. Nifty closed at 25018 with a gain of 7 points. On the daily chart the index has formed a "Doji " candlesti ck formation indicating indecisiveness amongst market participants regarding the direction. The chart pattern suggests that if Nifty crosses and sustains above 25070 level it would witness buying which would lead the index towards 25120-25200 levels. Important Supports for the day is around 24970 However if index sustains below 24970 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