[ad_1] nifty 50 Selling pressure was seen near the 15,900 level on Thursday as it finally closed near its opening levels, forming a long legged Doji on the daily chart. Such a candle indicates indecision among traders. Analysts said the index needs to move out of the 15,600-900 range for a directional move. Technical Research Analyst Nagraj Shetty said, a Doji is usually formed after a downtrend or an uptrend signal, which indicates a reversal of the trend. securities. But, the current Doji formation within a range movement has low…
Tag: Doji
Tech View: Nifty 50 turns Doji; Analysts uncertain about recovery ahead
[ad_1] nifty 50 Friday fell for the sixth straight day and formed an erratic Doji candle on the daily chart. On a weekly scale, it formed a long bearish candle. Analysts are unsure whether there could be a recovery from here. He said that the trend remains negative for the time being. Sameet Chavan Said that the index fell below the ’89-EMA’ for the first time since July 2020 on the weekly time frame chart, and this should be considered as a breakdown, which does not bode well for the…