Stock Markets today: Weak start for Dec series | Talbros Automotive, ABB Power, Adani Transmission, CG Power are stocks in the news
The Nifty traded in a narrow range on November 27 and ultimately ended in the red. On the weekly chart, the index closed in the green for the fourth consecutive week however it formed a Doji pattern on the weekly chart. This shows loss of momentum on the way up. The same is evident from the daily momentum indicator also as it has triggered a bearish crossover. Thus, the index is expected to witness a short-term consolidation before heading higher.
The hourly chart shows that Nifty has a potential to form a Head & Shoulders pattern whose right shoulder is currently in formation: Reuters