The short-term trend of Nifty is choppy with range-bound action. Any upside from here could encounter strong resistance around 22,800 levels. Immediate support is at 22,550 levels and a slide below the support could trigger some more weakness ahead, Nagaraj Shetti of HDFC Securities said.Open Interest (OI) data showed that on the Call side, the … Read more
Nifty on Monday ended 223 points higher to form a long bull candle on the daily chart as it challenged the crucial hurdle of 22,500 levels. The short-term uptrend of Nifty seems to have resumed after one day of weakness. The next upside levels to be watched are around 22,800-22,900. Immediate support is at 22,500, … Read more
Nifty on Friday ended 150 points lower to form a dark cloud cover candlestick on the daily chart, while the weekly one saw a high wave type candle, suggesting consolidation in the near term.Nifty’s short-term trend seems to have reversed down after a reasonable rise from the lows. Immediate support is placed at 22,300 and … Read more
Nifty on Thursday ended 168 points higher to form a bullish engulfing candle following a series of small candles, suggesting meaningful buying activity during the day. The hourly momentum indicator has triggered a positive crossover which is a buy signal and thus we expect the positive momentum to continue over the next few trading sessions. … Read more
Nifty on Friday ended 151 points higher after four successive days of decline and formed a bullish reversal pattern on the daily chart. The psychological mark of 22,000 holds intermediate support, followed by strong support of the 21,800-21,700 subzone. On the higher end, the 20-DEMA placed at 22,300, followed by a bearish gap of 22,430-22,500, … Read more
Nifty on Tuesday ended 125 points lower to form a bearish candle on the daily chart as it recorded losses for the third straight session. The short-term trend remains weak. But, having placed near the cluster support of around 22,000 levels, one may expect an upside bounce from the lows in coming sessions. Immediate resistance … Read more
Nifty on Friday ended 234 points lower to form a Doji candle on the weekly scale. On the daily charts, the index closed below the lows of the previous 3 trading sessions which indicates weakness. The index is in the process of retracing the rise it has witnessed from 22,710–22,776. The next crucial support level … Read more
The percentage of small and mid-cap stocks trading below 20-DMA has come down to 57% from 83% last week, indicating attempts to pull back, says Anand James, Chief Market Strategist, Geojit Financial Services. However, the percentage of stocks closing below the 30-day low increased to 9% from 2% last week which is indicating that the … Read more
Broadly trading in the range of 21,880- 22,200 since the last three trading sessions, Nifty on Tuesday ended 92 points lower at the 22K-mark. Immediate support was seen at 21,850, a break of which would again tilt the set-up in favor of the bears. One needs to take an open-minded approach in such a scenario. … Read more
Jason Zweig quoted in his book The Intelligent Investor…The market is a pendulum that forever swings between unsustainable optimism (which makes stocks too expensive) and unjustified pessimism (which makes them too cheap). The Intelligent Investor is the one who knows when to take risks and buy shares when there is pessimism…and avoid risk and sell … Read more
