Nifty Forms ‘Solid Bear Can­dle’, may Slip to 9,870

The Economic Times - - Smart -

timesin­ter­ ETMar­ 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


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