In yesterday’s trading session, the National Stock Exchange (NSE) benchmark index NIFTY opened on a positive note at the level of 11,401.50 for the first time from its previous close level of 11,360.80 and touched a day high of 11,427.65. On top of that, it succeeds to maintain its positive momentum throughout the session although it failed to hold on to opening levels, forming a small bearish candle in intraday trade, resembling a spinning top kind of a pattern on daily charts.
The low closing value compared to the opening level explains that traders preferred to book profits at higher levels. It couldn’t maintain its early gain and wiped those out in afternoon trade to hit the day’s low of 11,370.60.
Taking a cue from the global market and previous trading session, it is expected to see the flat to positive sentiment in today’s session.