Nifty made a low of 4555 high of 4623 and closed at 4613 which is 26 points down from previous close.
Nifty opened gap down and went up to 4555 at lower level buyers came into action to form a long lower shadow.
After a decline or long black candlestick, a doji indicates that selling pressure may be diminishing and the downtrend could be nearing an end. Even though the bears are starting to lose control of the decline, further strength is required to confirm any reversal. Bullish confirmation could come from a gap up, long white candlestick or advance above the long black candlestick's open. After a long black candlestick and doji, traders should be on the alert for a potential morning doji star.
On crossing 4630 of Nifty will find resistance at 4675 , 4730 and 4770.
support comes at 4590 and 4555.
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