Sensex dropped 0.15% to settle at 73,904. Nifty dipped 9 points to 22,453.30. Nifty formed back-to-back Doji patterns on the daily chart, typically indicating a pause before the next move.
The blue-chip NSE Nifty 50 index was up 0.61% at 22,462, while the BSE Sensex added 0.49% to 74,014, at the close. Nifty on Monday formed a Doji candle on the daily chart with the index trying to break above the crucial overhead resistance of 22,500-22,550 levels.
The MACD is known for signaling trend reversals in traded securities or indices. When the MACD crosses above the signal line, it gives a bullish signal, indicating that the price of the security may see an upward movement and vice versa.