November 14, 2021

Nifty forms ‘Dark Cloud Cover’ candle on daily chart. What does it signal for tomorrow’s trade?

Benchmark indices hit fresh record highs in the morning trade but lost momentum at the closing, eventually ending in the red. Bank, financial services along with metals saw some selling on Wednesday dragging the indices down. Broader market stocks also remained under pressure. Despite the volatile moves, the volatility index fell by nearly 4 per cent, indicating that traders are not panicking with the profit booking. The 30-share pack Sensex declined 162.78 points or 0.29 per cent to close at 55,629.49. The index traded in a range of over 600 points during the day. Its broader peer NSE Nifty fell 45.75 points or 0.28 per cent to 16,568.85.

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