Tech View: Nifty charts hint at short-term top formation. What traders should do on Friday

NEW DELHI: As the Nifty ended 33 points higher on Thursday’s expiry, the index formed a spinning top-like pattern on the daily chart suggesting the possibility of the formation of a short-term top.

However, having placed this candle pattern within a narrow range of 20,150-19,950 levels, the chances of further consolidation movement is likely in the short term, analysts said.