 "Sensex")
Nifty forms bearish candle with long wick
Since reaching its record closing high of 20,192, the benchmark National Stock Exchange Nifty50 has experienced a decline of 518 points, equating to a 2.6 per cent drop over four consecutive sessions of losses. The index most recently closed at 19,674, a level deemed crucial by technical analysts. “On the weekly charts, the Nifty has formed a long bearish candle, indicating weak sentiment in the near future. However, due to temporary oversold conditions, we could expect a quick pullback rally in the near future. For short-term traders, the 50-day simple moving averages of
