Tech View: Nifty short-term trend choppy. What traders should do on Wednesday

Tech View: Nifty short-term trend choppy. What traders should do on Wednesday

Nifty on Tuesday ended 32 points higher to reclaim its level above 20-DEMA placed at 22,309 and form a small negative candle, which is indicating ongoing range bound movement in the market. The near-term uptrend status of Nifty remains intact and the short-term trend is choppy. Further consolidation or minor dip could be a buying … Read more

Tech View: Nifty forms long-legged Doji candle. What should traders do on Tuesday

Tech View: Nifty forms long-legged Doji candle. What should traders do on Tuesday

Nifty on Monday ended 189 points higher to form a long-legged Doji candle pattern on the daily chart as it managed to move above the initial hurdle at 22,300 levels. If the index manages to sustain above 22,500, the market could even reach new all time highs in the near term. Immediate support is at … Read more

Tech View: Nifty forms bullish reversal pattern. What traders should do next week

Tech View: Nifty forms bullish reversal pattern. What traders should do next week

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

Lok Sabha election begins: How Nifty may behave before results and which stocks to buy?

Lok Sabha election begins: How Nifty may behave before results and which stocks to buy?

As polling for the seven-phase-long Lok Sabha election began from today, Dalal Street’s 9 crore investors would be closely tracking the mood of 96.8 crore voters spread across India. Ahead of the voting for the first phase, Sensex has given up almost all of its gains made in 2024 after rewarding investors with a 20% … Read more

Tech View: Nifty ends below 50-DEMA. What traders should do on Friday

Tech View: Nifty ends below 50-DEMA. What traders should do on Friday

Nifty on Thursday ended 152 points lower to fall below the 22,000-level and form a Bearish Engulfing candle below its 50-DEMA on the daily chart. The previous closure around 21,800 is likely to be seen as the pitstop for bears, and if bulls could not barge on there, we may test the 100 DEMA placed … Read more

ETMarkets Smart Talk: Nifty seen @ 24K in 2024; Nishit Master highlights 3 risks which could derail bull rally

ETMarkets Smart Talk: Nifty seen @ 24K in 2024; Nishit Master highlights 3 risks which could derail bull rally

“Our year-end Nifty50 target is 24000, which means we are looking at a high single-digit return this year from the index,” says Nishit Master, Portfolio Manager, Axis Securities PMS. In an interview with ETMarkets, Master said: “If investors sense that we might witness policy uncertainty post-elections, this bull rally can derail”. Edited excerpts:Sensex@75K, Nifty@22K – … Read more

Tech View: Nifty forms Shooting Star candle. What traders should do on Tuesday

Tech View: Nifty forms Shooting Star candle. What traders should do on Tuesday

Nifty on Monday fell 247 points to form a Shooting Star candle on the daily chart and violated the crucial support of 20-day EMA placed at 22,370. The larger degree positive chart pattern like higher tops and bottoms is intact on the weekly chart and present weakness could be in line with the formation of … Read more

Tech View: Nifty forms high wave candle. What traders should do on Friday

Tech View: Nifty forms high wave candle. What traders should do on Friday

Nifty on Wednesday formed a high wave type candle on the daily chart as it ended the session 111 points higher. Nifty is currently placed at the hurdle of around 22,800 levels (ascending resistance trend line and 1.618% Fibonacci extension). Though Nifty placed near the hurdle, still there is no sign of any reversal forming … Read more

Tech View: Nifty may consolidate within a range. What traders should do on Tuesday

Tech View: Nifty may consolidate within a range. What traders should do on Tuesday

Nifty on Monday ended 153 points higher to form a green candle on the daily chart while registering a new all-time high. Positive chart patterns like higher tops and bottoms are intact as per the daily chart, and the present upmove is in line with the new higher top formation of the pattern. The short-term … Read more

nifty technical charts: Tech View: Nifty chart shows bearish reversal; what traders should do on Friday

nifty technical charts: Tech View: Nifty chart shows bearish reversal; what traders should do on Friday

MUMBAI – The Nifty 50 ended marginally higher on Thursday, but the session witnessed volatility amid bouts of profit booking. The 50-stock index ended 0.4% higher at 22515 points. On the daily chart, the index has formed a hanging man pattern, indicating a potential bearish reversal in the short term, said Rupak De, senior technical … Read more