Indecisiveness between bulls and bears, medium-term texture still positive: Kotak Securities’ Shrikant Chouhan
The Nifty has formed a doji candlestick pattern that indicates indecisiveness between the bulls and the bears, according to Shrikant Chouhan, Head of Equity Research (Retail) at Kotak Securities. However, he said, the medium-term texture is still positive.
“Direction-wise, below 18,200, we can expect profit booking and after a breakdown, the chances of the index hitting 18,140-18,100 levels are bright. On the other hand, as long as the index is above 18,200, the uptrend will continue till 18,300-18,350 levels,” he said.