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Nifty

Nifty opened with an upward gap and traded positive in initial half. However, profit booking in second half erased most of the earlier gains
which led index to close on flat note. Nifty closed at 25483 with a gain of 58 points. On the daily chart the index has formed a small Bearish
candle with shadows on either side indicating indecisiveness amongst participants regarding the direction. The chart pattern suggests that if
Nifty crosses and sustains above 25650 level it would witness buying which would lead the index towards 25700-25800 levels. Important
Supports for the day is around 25400 However if index sustains below 25400 then it may witness profit booking which would take the index
towards 25300-25200 levels.

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