manuagarwal21

NIFTY 50 Technical Review- Forms Spinning candle

NSE:NIFTY   Nifty 50 Index
From past three sessions , we have seen Index Forming Indecisive candle and in yesterday's session, it formed bearish Belt hold candle, witnessing selling pressure near 11100- 11120 levels.

Following Bearish Belt Hold candle ,Index opened Gap- down ( approx 31 points) today. However it tried to recover and filled the gap created at the open, in the very first hour , but faced selling pressure and moved lower to 10979 levels, though it doesn't sustain at lower levels and closed near it open price, forming Spinning Candle, which signal volatility and indecision.

Moving further, Index had a gap support area @10994-10975 and following support@10881.

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