NEW DELHI: Nifty had a gap-up opening on Thursday and traded higher, but failed to sustain the gains and closed almost near its opening level. The headline index formed an indecisive 'Doji' candle on the daily chart.
Manish Hathiramani, technical analyst at Deen Dayal Investments said, “If the Nifty50 is able to get past the 14,950 level on a closing basis, then it could move higher to 15,300-15,400.“
Metal stocks led the sectorial rally on a strong outlook supported by rising steel prices and production. The Q4 earnings season has started and the market is expected to have a stock-centric rally in the coming days,“ said Vinod Nair, Head of Research at Geojit Financial Services.
That said, heres a look at what some of the key indicators are suggesting for Friday's action:
S&P500 scales new record high