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NIFTY TECHNICAL VIEW

Nifty opened with an upward gap and remained lackluster within narrow trading range throughout the day. Nifty closed at 22908 with again of 73 points. On the daily chart the index has formed a small Bullish candle with shadows on either side indicating indecisiveness amongst participants regarding the direction. The chart pattern suggests that if Nifty crosses and sustains above 22950 level it would witness buying which would lead the index towards 23000-23100 levels. Important Supports for the day is around 22800 However if index sustains below 22800 then it may witness profit booking which would take the index towards 22680-22620 levels.

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