MENU

Published on 2/08/2021 9:27:37 AM | Source: Geojit Financial Services Ltd

The selling in the closing hour of Friday had wiped off a significant portion of the day`s gains - Geojit Financial

Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel  https://t.me/InvestmentGuruIndia 

Download Telegram App before Joining the Channel

Nifty Outlook:

The selling in the closing hour of Friday had wiped off a significant portion of the day’s gains, resulting in a hammer candlestick pattern, usually seen as a bearish signal. Bullish exhaustion was visible as lower highs characterized Friday’s advance. But we see both these signals a product of traders attempting mean reversion plays being in a low VIX environment and would like to give more importance to the two consecutive days’ close near 15767, as a signal that last Wednesday’s recovery push is set to continue. This revives hopes for 16350 but does not yet allow letting the guard down on approach to 15900/920/970.

 

 

To Read Complete Report & Disclaimer Click Here

 

For More Geojit Financial Services Ltd Disclaimer https://www.geojit.com/disclaimer 

SEBI Registration Number: INH200000345

 

Views express by all participants are for information & academic purpose only. Kindly read disclaimer before referring below views. Click Here For Disclaimer