Nifty has a strong base around 18,050, which also coincides with the support zone of the short-term moving average. Its sustainability would fuel gradual recovery and help the index to retest 18,500- 18,700. In case of a breakdown, 17,850 would offer cushion.
Tech View: Nifty forms hammer candle, monthly support at 23,100 reaffirms strength. How to trade tomorrow
The hammer candlestick pattern indicates strong buying interest at lower levels, pointing to potential bullish momentum. The index held its key monthly support at 23,100,