NIFTY Index Chart Analysis

NIFTY GOES THROUGH AN EVENTFUL WEEK

Nifty made a unique and rare move last week, moving in a 2,057 points range and forming a 2,008 point-long lower shadow. With a sharp rise-declinerise in a week with a surge in volatility, trading has become the biggest challenge. This distinctive pin bar, or a Dragonfly doji candle of a 2,057 points range, is a very rare occurrence. This candle pattern at a new high indicates potential reversal, a significant shift in the market’s dynamics. The index also saw a significant surge in volume, a level not seen since the third week of February 2021. The index encapsulated the last six months of price action in just five trading sessions.