Tech View: Nifty forms Hammer candle, holds 22,725 support. How to trade on Wednesday

Tech view: Nifty has formed a Hammer candlestick pattern near multiple support zones, signalling strength. As long as it holds the recent low of 22,725, a buy-on-dips strategy remains favourable. The 21-day simple moving average (DSMA) at 23,240 serves as an immediate hurdle, and a decisive breakout above this level could confirm a near-term bottom reversal, said Hrishikesh Yedve of Asit C. Mehta Investment Intermediates.