Nifty update 27th March

Nifty 50 index formed a bullish candle on the daily chart with a higher high and a higher low, signaling extension of the pullback for the second session in a row after recent sharp decline. A long bull candle was formed on the daily chart with minor upper shadow. Technically, the market action of the last two sessions indicates a formation of crucial bottom reversal around 22,500 levels (23rd March). Presently, Nifty is 50 encountering previous opening down gap resistance of 19th March around 23,400 - 23,600 levels