Nagaraj Shetti, Technical Research Analyst, HDFC Securities, said Friday’s daily candle indicates the formation of a High Wave-type candle pattern. Having formed this pattern within a narrow range movement, the predictability of this pattern could be less, he said. “However, High Wave displays high volatility in the market,” Shetti said.
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A sustainable move above 19770 levels could bring bulls back into action. A slide below 19500 is expected to resume sharp selling momentum, said Nagaraj
September 29, 2023