Havells India, for instance, saw a breakout of its falling resistance trendline adjoining the highs of March 2 and April 8, and formed a big bullish candlestick pattern on the daily timeframe with healthy volumes.
As for the Nifty, going ahead, immediate support is expected around last Thursday’s low of 22,300, which coincides with the 20EMA (20-day exponential moving average), followed by the pivotal support of the bullish gap around 22,200.
State Bank of India was the second largest gainer in the Nifty 50 on Thursday and ended at new closing high. The stock has formed a Bullish Marubozu kind of candlestick pattern on the daily charts, with robust volumes.