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Nifty

Nifty opened with an upward gap and witnessed consolidation initial half of the session. However in later half, pullback action pulled index higher to close near the day's high. Nifty closed at 21457 with a gain of 274 points. On the daily chart the index has formed a long Bullish candle forming higher High-Low formation indicating positive bias. The chart pattern suggests that if Nifty crosses and sustains above 21500 level it would witness buying which would lead the index towards 21600- 21650 levels. Important Supports for the day is around 21300 However if index sustains below 21300 then it may witness profit booking which would take the index towards 21250- 21200 levels.

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