The index experienced a wide intraday range of 611 points.
Though the Nifty closed with a gain of just 0.37% for the week, Friday's large candle not only completely engulfed the week's trading but also a major part of the fortnight, which lends credence to the up move seen Friday.
Another notable action, of which we had spoken in the last article was that the neckline of the Inverse Head & Shoulders was indeed crossed last fortnight, and the Nifty took support on the neckline twice. The first support was taken on December 5, on the day when the trading range was 563 points. The second occasion was last Friday when the Nifty just bounced back from the neckline.
This story is from the December 16, 2024 edition of Financial Express Chennai.
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This story is from the December 16, 2024 edition of Financial Express Chennai.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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