After making shooting star candlestick on daily charts, Nifty made Doji candlestick*, which shows indecision among bulls and bears and high volatility. Volatility may be continuing till Nifty Sept Future expiry in this week. However, Directional sense may be seen only above 6,050 levels. Nifty short term trend is up and higher prices may be seen as long as Nifty trades above 6,000 levels. On Maintaining below 6000 levels, correction may be seen. For daily purpose, trend deciding level is 6,030. If Nifty shows strength above 6,030 levels, then rally to 6,050-6,075-6,100 levels may be seen. If Nifty does not show strength above 6,030 levels then selling pressure till 6,000-5,950-5,900 levels may also be seen.
For Intraday trading BSE SENSEX is likely to test 20,320 - 20,470 as resistance levels and could find support at 19,980-19,900.
For Intraday trading BSE SENSEX is likely to test 20,320 - 20,470 as resistance levels and could find support at 19,980-19,900.
* Doji Candlestick : Doji Candlestick represents the equilibrium between supply and demand in the markets. This signal is distinct in that prices open and close at or near the same level, indicating indecision of investors. If prices finish very close to the same level, then either a very small real body, or no real body is visible, and you therefore have a Doji candlestick.
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