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The Nifty which started the week ended April 6 on a muted note managed to recoup losses and closed with gains of just six points but above its crucial psychological support level of 10,300 on Friday. It formed a Doji type pattern on the daily chart and a bullish candle on the weekly chart.
The index, which made a bullish Marubozu candle on the daily chart on Thursday, consolidated in a narrow range on Friday and made an indecisive candlestick pattern on the daily chart.
A 'Doji' is formed when the index opens and then closes approximately around the same level but remains volatile throughout the day as indicated by its long shadow on either side. It appears like a cross or a plus sign.
The Nifty index opened at 10,322 and rose to an intra-day high of 10,350 which is close to its 50-DEMA. It slipped to an intra-day low of 10,290 before closing the day six points higher at 10,331.
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