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Nifty

Nifty opened with an upward gap and remained lackluster within narrow trading range throughout the day. Nifty closed at 22402 with a gain of 34 points. On the daily chart index has formed a sma l l b e a ris h c a n d l e representing resistance at higher levels. The chart pattern suggests that if Nifty crosses and sustains above 22500 level it would witness buying which would lead the index towards 22600-22700 levels. Important Supports for the day is around 22380 However if index sustains below 22380 then it may witness profit booking which would take the index towards 22300-22250 levels.

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