Nifty Future closes lower at 5897 - BP Wealth

Nifty Future closed lower by 0.7% at 5897. Index formed dark cloud cover, a bearish reversal candlestick pattern which requires a confirmation on the next day by a down close. Going ahead Index has resistance at the upper trend line which is drawn connecting the previous two peaks, a failure to surpass this trend line will continue Friday's down move.

Bank Nifty Future closed lower by 1.8% at 11879. Index has formed dark cloud cover – a bearish reversal candle stick pattern which requires confirmation in the form of a down close on the next day. Also it is forming a symmetrical triangle, a breakout from the triangle will decide the direction for short term. Going ahead, Index has resistance at 11940-12000 while support comes at 11800-11590.

Source : Equity Bulls

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