INSUBCONTINENT EXCLUSIVE:
NEW DELHI: Nifty on Tuesday staged a strong rebound, snapping a seven-day losing spree
The index, which was in the oversold territory on Monday, formed a Bullish Harami pattern on the daily charts
Analysts said a bottom for the index could be in the making.
The formation of a Bullish Harami candle suggests a possible pause in the
On the flip side, a failure to sustain beyond the 11,220 level can lead to fresh selling pressure, dragging the index towards the
zone, which was formed on February 28
In simple words, if the index moves above the 11,536 level on a closing basis, eventually the decks would be cleared for a bigger up-move
for Nifty in the coming sessions
The next overhead resistance to be watched, he said, is at 11,420
He see immediate support for Nifty at 11,210 level.