Tech View: Nifty forms red candle, buy on dips advised above 23,270. How to trade on Friday

Tech view: Nifty formed a small red candle with a long upper shadow on the daily chart, signalling selling pressure at higher levels. The 21-Day Simple Moving Average (DSMA) at 23,270 creates a resistance zone between 23,270-23,300, while 22,780 serves as key support. Holding above 22,780, a buy-on-dips strategy remains favourable, said Hrishikesh Yedve of Asit C. Mehta Investment Intermediates.

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