INSUBCONTINENT EXCLUSIVE:
The index continued to form higher highs and formed a long bullish candle on the daily chart
Going forward, the index could face strong resistance in the 10,435-50 range.
A long bull candle with long lower shadow suggests the
HDFC Securities.
For the day, the index rose 188 points, or 1.85 per cent, to settle at 10,386.
On the hourly chart, the index formed an
The larger picture shows volatility may continue going forward and it can result in the formation of a wedge pattern
The recent bounceback seems to be part of an unfolding pattern
Hence, the bounce is unlikely to develop into a larger structure on the upside and the 10,440 level should be a key hurdle where the bears
research, at chartviewindia.com, says the 10,435 level will be critical
