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Nifty

Nifty opened with an upward gap and remained lackluster within narrow trading range throughout the day. Nifty closed at 24699 with a gain of 126 points. On the daily chart index has formed a bullish candle carrying both side shadows however it has continue to form Higher High-Low formation indicating positive bias. The chart pattern suggests that if Nifty crosses and sustains above 24740 level it would witness buying which would lead the index towards 24800-24850 levels. Important Supports for the day is around 24600 However if index sustains below 24600 then it may witness profit booking which would take the index towards 24500-24400 levels.

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