During the day, the index recovered some ground after testing its five-day EMA.

Nifty’s sustenance above 11,784 level is critical for the index to maintain a positive bias.

Chances are Nifty50 index may move towards the 10,850-870 range by next week.

A bearish candle on Thursday’s daily charts made the case stronger for rangebound trade ahead.

Traders are advised to remain long by trailing their stop at below 10,800 on a closing basis.

The Nifty futures may find support around 11,413 and 11,602 on the downside.

Nifty futures chart has made ‘Hanging Man pattern’ in weekly chart.

Going ahead, the 10,500 level should act as immediate support for the Nifty50 index.

The Nifty opened the session at 10,461, which also turned out to be its intraday high.

The positive closing in the previous 3 weeks was not strong enough to register a breakout.

Experts said that the market is likely to continue correction for a couple of more sessions.

In a ‘Hanging Man’ pattern, there is a small real body at the upper end of the candle.

Going ahead, the index would face resistance at around 8,820 level, while the immediate support for the NSE barometer exists at around 8,70...

The Nifty50 moved in an extremely narrow range of 35 points before signing off the day with a 'Hanging Man' kind of formation ahead of the ...

A ‘Bearish Belt Hold’ pattern gets formed when the opening price becomes the highest point of the trading day, which means there is no uppe...

A ‘Hanging Man’ is a bearish reversal candlestick pattern that is formed at the end of an uptrend or at the top just like the one registere...

The Nifty50 opened at 8,694 and then slipped into an intraday low of 8,647, forming a long lower shadow. It hit a high of 8,696, which was ...