As the movement of Nifty is concerned, there was the last hour rebound, which made the Nifty close in the green. Nifty has also made a bearish 'hanging man' pattern, which means the bullish demands will tapering off. The Nifty bank that was a bigger outperformer yesterday also managed to close above the 100 days moving average for the first time since 20 February this year. Nifty Midcap actually mirrored what Nifty actually did and made a hanging man pattern that is on the bearish side. A few sectors do have interesting patterns like Nifty Infra, Metal and energy also made bearish engulfing patterns. Nifty PSU bank also faces resistance at 100- day moving average. Watch the video to know more!
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