A small positive candle that is placed beside the long positive candle of the previous session indicates a range-bound movement in the market after a pullback rally. This also reflects a lack of selling interest in the last couple of sessions after a sharp reversal on the downside on August 19 and August 22, said Nagaraj Shetti, Technical Research Analyst, HDFC Securities.
Dalal Street Week Ahead: Time to get cautious & defensive after Nifty’s swift runup
From a technical standpoint, the previous week has created a gap. In the process, the index has shifted its support zones higher in the range
December 9, 2023