Tech View: Nifty forms hammer candle; rebound from 23,500 offers hope. How to trade on Thursday

January 8, 2025

The Nifty’s short-term trend remains weak, but a smart recovery near 23,500 levels suggests a potential upside bounce. A sustained move above 23,800 levels could confirm this recovery. Immediate support is seen at 23,496 levels, according to Nagaraj Shetti of HDFC Securities, indicating possible market strength if the resistance is surpassed.

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