The Sensex gained 21.12 points to close at 52,344.45, while the Nifty50 declined eight points to 15,683.40 and formed a Hammer pattern on the daily chart.
This candle pattern seems to be a Hammer or a Hanging Man type formation but they are wrongly placed to assert any predictive value.
Hence, the Nifty sustaining above 15,700 levels by next week is likely to open a way for another new all-time highs-above 15,901,” he said.
According to pivot charts, key support for the Nifty are placed at 15,502.3, followed by 15,321.3.
The important pivot level, which will act as crucial support for the index, is 34,048.8 followed by 33,539.6.
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