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Market Live:Sensex.

Traders are advised to be prepared for wild swings in either of the directions over the course of the next session and advised focus on larger trends rather than getting worried by the volatility of the day.Nifty started on a mildly positive note but failed to gain momentum and closed flat on Monday forming an indecisive pattern known as ‘Doji’ on the daily candlestick charts.A ‘Doji’ is formed when the index opens and closes approximately around the same level staying volatile through the day. This is indicated by its long shadow on either side. It appears like a cross or a plus sign.The index breached 10,800 levels on an intraday basis but managed to climb back to close above 10,800 for the second consecutive day in a row.Nifty registered a Doji kind of indecisive formation ahead of the major event suggesting that market participants lacked directional clue and has taken a cautious stance. Although the technical picture is looking somewhat positive, but the market is bound to get influenced by the event,Traders are advised to be prepared for wild swings in either of the directions over the course of the next session and advised focus on larger trends rather than getting worried by the volatility of the day 10,601 can act as a minor support but corrective swing shall get culminated only after dipping below 10,601. On the other hand, a positive outcome may drive the indices initially towards its logical targets of 10,928 levels.

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