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Nifty

Nifty opened with an upward gap and witnessed consolidation for most part of the session. However last hour pullback action pulled index higher to close near the day's high. Nifty closed at 20855 with a gain of 168 points. On the daily chart the index has formed a small Bullish candle carrying long lower shadow indicating buying support at lower levels. The cha rt pattern suggests that if Nifty crosses and sustains above 20870 level it would witness buying which would lead the index towards 20950-21000 levels. Important Supports for the day is around 20700 However if index sustains below 20700 then it may witness profit booking which would take the index towards 20600-20550 levels.

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