Trade setup for Monday, April 25: The Nifty50 may make a comeback from the lows with support in the 17,000-16,800 band, say experts. Here's what the technical charts suggest for the coming session.
Indian equity benchmarks halted a two-day winning run on Friday dragged by financial, IT, oil & gas and metal shares, amid weakness across global markets as concerns resurfaced about aggressive hikes in COVID-era interest rates.
What do the charts suggest for Dalal Street now?
The Nifty50 has formed a long negative candle on the daily chart, with a minor negative sequence of lower tops and lower bottoms, according to Nagaraj Shetti, Technical Research Analyst at HDFC Securities.