Septembers are generally prone to profit booking especially if the two preceding months have had a rise of at least 0.5% each. However, a dragonfly candle formed in monthly chart points to bulls having upper hand as we enter September, having rejected several bear attempts, and broken free of their stranglehold, as is. Momentum indicators point to strength in trend, and could potentially pave way for large gains.
Tech View: Nifty forms red candle on daily chart, suggesting weakness. What traders should do on Friday
Nifty opened flat and traded within a narrow range, closing negatively at 24,205, noted Hrishikesh Yedve from Asit C. Mehta Investment Intermediates. He highlighted that
October 31, 2024