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Technical View: Nifty forms bearish candle on F&O expiry day, experts say avoid long positions

Traders should avoid long positions and intraday traders should consider shorting below 14,264 for a target in the 14,150– 14,100 zone, says Mazhar Mohammad of Chartviewindia.

March 25, 2021 / 05:39 PM IST

The Nifty50 traded sharply lower for the second day, ending the last day of the March series with 1.5 percent losses as selling was seen across sectors on March 25.

The index formed a bearish candle on the daily charts as the closing was lower than opening levels. Experts say 14,000 is expected to act as a crucial support level.

After opening a tad higher at 14,570.90, the Nifty immediately slipped in the red to hit the day's low of 14,264.40. The index ended 224.50 points, or 1.54 percent, at 14,324.90.

Traders should avoid long positions for the time and intraday traders should consider shorting below 14,264 levels for a target placed in the 14,150–14,100 zone, Mazhar Mohammad, Chief Strategist – Technical Research & Trading Advisory at Chartviewindia told Moneycontrol.