Bank nifty opened gap down today and it tries to fill the gap it created today, but couldn't sustain it and closed where it opened today, forming a Doji kind of candle today.
Doji candles are indecisive candles, there formation are more important if they form at support or resistance levels, in this case it formed at the support area, an area where prices took resistance multiple times, and then crossed decisively on 21 May 2021, and also consolidated there for few trading session, now prices are again trading at that support level.
Now, what next ??
If the support held, initially we could see range bounce movement, trending move on the upside can only be seen above 35300 levels, currently charts didnt suggest any massive selling.
Doji candles are indecisive candles, there formation are more important if they form at support or resistance levels, in this case it formed at the support area, an area where prices took resistance multiple times, and then crossed decisively on 21 May 2021, and also consolidated there for few trading session, now prices are again trading at that support level.
Now, what next ??
If the support held, initially we could see range bounce movement, trending move on the upside can only be seen above 35300 levels, currently charts didnt suggest any massive selling.