Tech View: Nifty indicators blink sell. What traders should do on Friday

Nifty ended Thursday’s weekly expiry 159 points lower to form a long bear candle with an unfulfilled opening down gap on the daily chart. Technical analysts say sharp reversals with more gap-up or gap-down moves indicate that the trend could continue longer.

The next important support to be watched is around 19,550 levels, which is a weekly 10-period EMA. Minor upside bounce is to be expected from the supports, but the said bounce could be a sell-on-rise opportunity, said Nagaraj Shetti of HDFC Securities.