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Nifty

Nifty opened with an downward gap but witness ed buy ing from the opening tick to end positive. Nifty closed at 19718 with a loss of 47 points. On the daily chart the index has formed a small Bullish candle with upper shadow indicating selling pressure as well as resistance at higher levels. The chart pattern suggests that if Nifty crosses and sustains above 19800 level it would witness buying which would lead the index towards 1990 0 -2 0 0 0 0 l evels. Important Supports for the day is around 19650 However if index sustains below 19650 then it may witness profit booking which would take the index towards 19600-19500 levels.

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