Market Watch : Uncertainty over US-China trade talks lends caution, but oil`s drop supports

2025-05-05 09:26:53 am | Source: Geojit Financial Services Ltd

Market Watch : Uncertainty over US-China trade talks lends caution, but oil`s drop supports - Geojit Financial Services Ltd

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Nifty Outlook

Friday’s vicious rejection trades forced Nifty to form a gravestone doji candlestick pattern. However, the close near 24350 which is incidentally the same as that of each of the six previous days encourages us to the ignore the bearish signal from the doji for now, and stick with the 25000 view. That said, any sign of slipping below 24280 would have to be taken as an indication towards weakness, though it might require a confirmation from a break below 23850, to play a 23670-23460 plunge. The odds of the same appear low at this point though, but we remain cautious.

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Market Watch : Uncertainty over US-China trade talks lends caution, but oil`s drop supports - Geojit Financial Services Ltd

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