NIFTY Index Chart Analysis
MARKETS CONTINUE TO BE IN A STATE OF CONSOLIDATION
The global tremors are becoming increasingly violent. There have been consistent cases of being up one day and down the other with big swings. Gap opening and intraday recoveries have become habitual for the equity markets. After the US CPI data announcement, the Dow index opened sharply lower and recovered 1,400 points from the opening lows on Thursday. This has influenced the Indian market to recover the losses at the weekend on Friday. As the benchmark index recovered over percentage points, the Nifty has formed an inside bar on the weekly chart. Otherwise, it would have been a negative candle.