The broader technical structure remains confined within the prevailing trading range on the weekly charts, with immediate resistance placed in the 24,500-24,600 zone
Hitesh Rathi of Angel One recommends adopting a buy on dips approach for the Nifty, with prior resistance zone of 24,180-24,100 now likely to act as an immediate support cluster.
The formation of a 'Doji' candlestick on the Nifty weekly chart reflects indecision between bulls and bears, explains Hitesh Rathi, technical analyst at Angel One.
The Nifty has broken above the recent swing high near the 23,530 mark decisively, indicating a possible reversal in the immediate trend, says Hitesh Rathi, Technical Analyst at Angel One.
