Stock Market Highlights: 23,350 a key hurdle for Nifty, weak trend persists. How to trade on Wednesday

A small positive candle was formed on the daily chart with a gap up opening and with a long upper shadow. Technically, this market action indicates an upside bounce in the market with lack of strength to sustain the highs.The negative chart pattern like lower tops and bottoms is intact on the daily chart and current upside bounce could possibly open another lower top formation in the short term. On further upside, Nifty could encounter a strong hurdle at the recent down gap of 13th Jan around..