Nifty View: Volatile trading session for the benchmark Nifty in today’s trade. The index oscillated within a range of over 100 points to close with a gain of just 11 points leading to a Japanese candlestick pattern which is known as “Spinning Top”. The underlying trend of the market is still very much up and resilient and considering the one-way rally that we had last week such consolidation with a dash of volatility is very much normal and also welcomed. It makes sense to continue with the bullish bias on the overall market and look to buy price dips. As long as the short-term support of 16,100 is not breached it is advisable not to look for short trades.
Thank you for following my work and please feel free to share your thoughts and suggestions.