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One should not worry during corrections as long as the overall pattern or structure is still higher highs and higher lows on the weekly time frame, says Ashish Kyal.
Nifty50 Chart, Nifty50 Prediction: Sensex and Nifty both ended in red for the fifth consecutive day. The BSE benchmark plummeted 1,045.60 points or 1.99 per cent to settle at 51,495.79. Similarly, the NSE Nifty plunged 331.55 points or 2.11 per cent to close at 15,360.60.
Starting off on a positive note, the 30-share BSE benchmark hit the day's high of 60,427.36, before ending at 60,395.63, higher by 650.98 points or 1.09 per cent.
Technical View: Nifty forms small bullish candle on weekly charts, prudent to remain neutral for now Mazhar Mohammad of Chartviewindia advised traders to wait for a breakout in either direction before initiating a trade. Sunil Shankar Matkar Representative image | Source: Unsplash Nifty50 gained strength to the tune of nine-tenth of a percent in the morning, but profit booking and volatility in last couple of hours of trade pulled the index lower on February 12. FMCG, metals and pharma stocks weighed down and banking & financials supported the ind...