Nifty forms indecisive 'Doji' candle

Nifty has to hold above 24400 zones for an up move towards 24650 then 24750 zones whereas supports can be seen at 24350 and 24250 zones

- Motilal Oswal Team

Nifty Index opened positive and crossed a major hurdle of 24500 marks but witnessed a sharp fall within seconds during mid-day. The good part is that it respected support of 24350 zones and witnessed a quick recovery from the intraday fall to later close with marginal gains. It formed a Doji sort of a candle with longer lower shadow indicating buying interest is intact at lows and has been making higher lows from the last four sessions. Now it has to hold above 24400 zones for an up move towards 24650 then 24750 zones whereas supports can be seen at 24350 and 24250 zones.