The hourly momentum indicator has also reached the equilibrium line indicating that the pullback has matured and can begin a new cycle on the downside, said Nagaraj Shetti of HDFC Securities.
Tech View: Nifty’s near-term trend weak; breakout above 23,350 may trigger upside bounce. How to trade on Thursday
The Nifty’s near-term trend remains weak, with the lower tops and bottoms pattern intact. The current pullback aligns with a potential new lower top, pending