INSUBCONTINENT EXCLUSIVE:
The index formed a Hammer candle on the daily chart, suggesting buying at lower level.
Follow-up action was missing on either side, as the
hold above 10,500 level to extend its upmove towards the 10,650 -10,750 range
Multiple supports are seen around 10,450 and 10,380 levels," Taparia said.
For the day, Nifty fell 13.20 points, or 0.12 per cent, to
10,585.
The index has formed a small positive candle on the weekly scale after a sharp upmove in the previous week, signalling a
Normally, a breather pattern signals a temporary halt to the upside momentum, but is considered a continuation pattern of an uptrend, said
side bets unless Nifty registers a breakout on the upside with a strong close above 10,620 level.
"Essentially, as it is looking like a
directionless market, traders should focus on stock-specific opportunities in both directions for time being till the index registers a
