Day Trad­ing Guide

The Economic Times - - Smart -

Based on Ja­panese can­dle­stick for­ma­tion, Nifty has formed a “doji” for­ma­tion at the top of the cur­rent up move, which is an in­di­ca­tion of a tem­po­rary halt or a pause. As the price re­trace­ment is faster than the ex­pec­ta­tions, the mar­ket may cor­rect on time ba­sis and that may keep the mar­ket range bound be­tween 8760 and 8650. How­ever, ba­sic trend is much stronger and would not al­low it to fall be­low the level of 8600 in the near term. On the higher side, it may even touch the 9000-level in the next cou­ple of weeks if it bounces back sharply from 8650.

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