"A Doji pattern followed by a recovery candle on the daily chart indicates the possibility of a bullish reversal. On the higher end, immediate resistance is placed at 17,250, where the bears might try to return to the market," Rupak De, Senior Technical Analyst at LKP Securities said.
However, if bulls take the Nifty above 17,250, the index may move towards 17,500–17,600, whereas on the lower end, support remains intact at 16,950, he said.
However, if bulls take the Nifty above 17,250, the index may move towards 17,500–17,600, whereas on the lower end, support remains intact at 16,950, he said.
Trade closed: target reached
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.