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Nifty

Nifty opened with an upward gap and remained lackluster within narrow trading range throughout the day. Nifty closed at 22849 with again of 450 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 22930 level it would witness buying which would lead the index towards 23000-23140 levels. Important Supports for the day is around 22750 However if index sustains below 22750 then it may witness profit booking which would take the index towards 22700-22600 levels.

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