Tech View: Dark cloud pattern seen on Nifty charts. What traders should do on Thursday expiry

Tech View: Dark cloud pattern seen on Nifty charts. What traders should do on Thursday expiry

Nifty on Wednesday ended 183 points lower near the 22,700 level as the index formed a dark cloud cover candlestick pattern on the daily chart. Support for Nifty is now seen at 22,675-700 and 22,500 levels. On the higher side, the immediate resistance zone is at 22,825-850 levels and the next psychological resistance is at … Read more

Tech View: Nifty forms small Hanging Man candle. What traders should do on Friday

Tech View: Nifty forms small Hanging Man candle. What traders should do on Friday

Nifty ended the Thursday expiry higher by 203 points to close above the 50 and 20-day SMA (Simple Moving Average) and form a small Hanging Man pattern on the daily charts. The formation of long lower shadows on two occasions in the last four sessions signals the emergence of sharp buying on dips. This is … Read more