Tech View: Nifty forms Doji candle ahead of Thursday expiry. What traders should do

Nifty formed a Doji-type candle on Wednesday, indicating indecisiveness and volatility at highs, according to Ashwin Ramani, Derivatives & Technical Analyst at SAMCO Securities. A close below the Doji candle low may prompt profit booking while a close above the Doji candle high could lead to new longs. Bank Nifty, meanwhile, has consolidated around the 20-Day Exponential Moving Average for five consecutive days, indicating that a decisive move in either direction could signal future direction. Analysts suggest that the support level is 18,700, while a rally above 19,000 is expected to lead to gains.

Generated by Feedzy