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Nifty

Nifty opened with an upward gap and witnessed selling for most part of the session. However last hour pullback action pulled index higher to close on positive note. Nifty closed at 25011 with a gain of 60 points. On the daily chart the index has formed a "Doji" candlestick formation indicating indec isiveness among st mar ket participants regarding the direction. The chart pattern suggests that if Nifty breaks and sustains below 24950 level it would witness selling which would lead the index towards 24900-24800 levels. However if index crosses above 25080 level it would witness pullback rally which would take the index towards 25150-25200.

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