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From the bottom of 9,951 registered on March 23, 2018, the Nifty50 has risen by 6.9 percent till date. During Monday’s session, Nifty50 hit a high of 10638 and witnessed profit booking in the second half, to close at 10,584.
After healthy recovery of almost 700 odd points from the recent low, Nifty has formed “Doji” candlestick pattern on the daily charts, which indicates indecision among the bulls and bears.
The level of 10638 has been a crucial resistance level. Why? The Nifty50 on 8th February 2018, formed an intermediate top at 10638 which was then followed by a downtrend
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