Tech View: Nifty chart shows bearish candle formation. What traders should do on Monday

Indian headline equity indices closed in the red on Friday, breaking their six-session gaining streak. They were dragged by index heavyweights Reliance Industries (RIL) and Larsen & Toubro. The 50-stock index ended at 23,501.10, down by 65.90 points or 0.28%.

Nifty’s struggle to hold above the day’s opening range indicates that the bullish sentiments have gone sore on the Summer Solstice Day, said analyst Rahul Ghose, CEO of Hedgedin.