Daily Market Note by Mr. Nagaraj Shetti, HDFC Securities 09 October 2019
Below is the Views On Daily Markets Note by Mr. Nagaraj Shetti, Technical Research Analyst, HDFC securities
After showing a consistent weakness in the last six sessions, the Nifty witnessed a sharp upside bounce today and closed the day on a hefty gains. A long bull candle was formed today from near the crucial support of 11,100-11050 levels, which is a previous upside breakout point of larger consolidation, as per the concept of change in polarity.
The Nifty showing sharp upmove today could be a relief factor for bulls to make a comeback as per short term basis.