Nifty Futures and Market Update – 1st June, 2010
A Low Range Candle, A Spinning Top .. ?
For the first time in almost six trading days, Monday’s trading of the Nifty futures was confined to a low range bar which predominantly coincided with the previous day’s bar. Even though the futures gained 20 points, it formed a spinning top like candle. A spinning top candle may be a precursor to a small correction. The futures also made gains for the past four trading days and therefore, it may pause or make a small correction. Traders may watch out for such a correction for making the long entries if need be on the basis of international cues. Monday’s trading has not changed the technical position of the markets. The positive momentum is still prevailing in the markets.
