Nifty Stable Start and Volatility Later 0 1628

Pre Market Updates: Thursday September 06
Nifty levels
  • 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.
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