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The index has taken support at the key short-term moving average placed at 15,630, and formed a small bullish candlestick.

A successful breakout from the resistance zone of 15,780-15,800 would extend the uptrend, taking the index higher to levels of 15,870, writes Aditya Agarwala.

Ahead of Market: 12 things that will decide stock action on Thursday SECTIONS Share Synopsis Sensex slipped below the 52,000 mark, while Nifty ended below the crucial 15,550 level. Nifty traded in a wide range of 233 points in a volatile session and formed a bearish candle on the daily chart. Related NEW DELHI: Domestic equity indices opened in the green on Wednesday, but erased all gains in the afternoon session amid selling pressure across sectors. Sensex slipped below the 52,000 mark, while Nifty ended below the crucial 15,550 level. Nifty traded in a wide range of 233 points in a volatil...

Nifty traded in a 359-point range, and the market maintained its trajectory throughout the week, barring few incidents of consolidation on the daily chart.

Strong buying seen in energy, power, realty and metal counters helped erase some of the losses, helping the Nifty close in the green.