Pre Market Updates: Thursday September 06
- Asian indices trading in a weak note
- Yesterday Nifty chart indicate weak bias and buying seen in the last hour could just be due to short coverings after a sharp drop
- As of now pharma, auto and metal shares shows some recovery in lower levels.
- It is best advice for conservative traders to wait for more signs of stability, before taking fresh longs.
- Bank Nifty weekly expiry may bring more volatility today.
- Nifty may to trade between 11400 and 11550.
Nifty50 Technical Analysis: Hammer-like pattern on charts
- A hammer is a price pattern in candlestick charting that occurs when a security trades significantly lower than its opening, but rallies later in the day to close either above or near its opening price.
