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The Nifty formed a bullish candle after forming a bearish candle on the daily candlestick charts on Tuesday. Investors are advised to remain neutral on markets and adopt a stock specific approach.
The Nifty which opened at 10,693.35 rose to an intraday high of 10,766.25. It slipped below its 5-DEMA to hit an intraday low of 10,689.85. It finally closed 23.90 points higher at 10,741.70.
“Albeit Nifty’s price action appears to be somewhat positive, its inability to get past its recent corrective swing high of 10784 is clearly suggesting that market is adopting a cautious stance and may remain range bound for a couple of sessions going forward
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