Nifty Forms ‘Solid Bear Candle’, may Slip to 9,870
timesinternet.in ETMarkets.com: Tuesday’s was a poor session for the Nifty50, as it fell below key short-term moving averages to settle at sub-10,000 level for the first time in 10 sessions.
The index made a solid bear candle on the daily chart. Besides, it formed lower top and lower bottom, which analysts said has left the index vulnerable to further correction.
Now, if the index closes in the red on Wednesday, it would be a break away from a trend – no correction for more than two sessions – seen since the June lows.
“The Nifty50 registered a solid bear candle with a new swing low, thereby