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Nifty 50 Snaps 8-Week Fall as Bullish Harami Signals Potential Reversal
M
Moneycontrol•09-10-2026, 17:12
Nifty 50 Snaps 8-Week Fall as Bullish Harami Signals Potential Reversal
- •The Nifty 50 gained 1.3 percent, forming a Bullish Harami pattern and snapping an eight-week losing streak, though follow-through buying is needed to confirm a sustained recovery.
- •Immediate resistance for Nifty 50 stands at 22,800, while crucial support is placed in the 22,300 to 22,200 range.
- •Bank Nifty rebounded strongly, reclaiming the 55,200 mark and snapping a seven-week losing streak with a 1.48 percent weekly gain.
- •Technical indicators like RSI and MACD show easing selling pressure and a potential for short-term pullbacks, but broader bearish trends warrant caution.
Key Questions Answered
The Nifty 50 formed a Bullish Harami candlestick pattern on the daily chart and a Doji candlestick pattern on the weekly chart.
The Nifty 50 faces immediate resistance at the 22,800 level, while support lies in the 22,300 to 22,200 zone.
The Bank Nifty rose by 1,400 points over the past eight sessions, reclaiming the 55,200 mark and closing at 55,257.
