Trade setup for Monday, March 28: Experts say the Nifty50 is likely to continue to be in a range with a weak bias but it is an opportune time for traders to look out for stock-specific moves. Here's what the technical charts suggest for the coming session.
Indian equity benchmarks failed to make it to the green in yet another choppy session on Friday, closing lower for the third day in a row. Globally, the Fed's hawkish mood, shifts in Chinese economic policy and harsh movements in commodity markets thanks to the Ukraine crisis remained in focus.
What do the charts suggest for Dalal Street now?
The Nifty50 has formed a small negative candle on the daily chart with a lower shadow, having moved within a narrow range of 17,400-17,000 in the past five sessions, according to Nagaraj Shetti, Technical Research Analyst at HDFC Securities.