Nifty on Tuesday ended 9 points lower to form back-to-back Doji patterns on the daily chart, typically indicating a pause before the next move. The short-term trend of the Nifty remains positive. Though Nifty is placed at the crucial overhead resistance around 22,500 levels, there is no confirmation of any reversal pattern unfolding at the … Read more
Nifty on Monday ended 135 points higher to form a Doji candle on the daily chart with the index trying to break above the crucial overhead resistance of 22,500-22,550 levels. Though Nifty is now placed at the crucial hurdle of around 22,500 levels, the overall chart pattern remains positive and we are unlikely to see … 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
Nifty on Thursday ended 203 points higher to form a reasonable bull candle with a long upper shadow on the daily chart, reflecting selling pressure near all-time highs around 22,500 levels. The near-term uptrend of the Nifty remains intact with high volatility. The next upside levels to be watched are around 22,500-22,600 in the next … Read more
Nifty on Wednesday ended 119 points higher to form a green candle on the daily chart. The index surpassed the hurdle of short-term moving average i.e. 20-DEMA but needs sustainability above 22,200 to extend the rebound. Daily and hourly momentum indicators are providing divergent signals, which can lead to a consolidation and hence in case … Read more
Nifty on Friday ended 85 points higher to form a green candle with a minor upper shadow on the daily chart. On the weekly scale, a small positive candle with a long lower shadow was seen. The short-term trend of the Nifty remains positive. A sharp move above the hurdle of 22,200-22,300 levels could pull … Read more
Nifty on Thursday ended 173 points higher to test the immediate hurdle of short-term moving average i.e. 20-EMA, but it couldn’t surpass it amid weekly expiry. On the daily charts we can observe that the index is in the process of retracing the fall it has witnessed from 22,526 – 21,710. The key retracement levels … Read more
Nifty on Tuesday ended 238 points lower to sneak below its 50-DEMA for the first time in the last four months and form a long bear candle on the daily chart. The overall chart pattern of Nifty is weak and one may expect further decline in the near term. The next lower levels to be … Read more
Nifty on Monday ended 32 points higher to form a small positive candle on the daily chart with minor upper and lower shadow. During the day, the index managed to hold on to the support zone of 21,900 – 21,850 where support parameters in the form of the 40-day average and the previous swing low … Read more
Nifty on Friday ended 123 points lower to form a small negative candle on the daily charts and a bearish engulfing pattern on the weekly charts. The short-term and the near-term trends of Nifty remain weak. A decisive move below 21,900 could open sharp weakness down to the next lower support of 21,500 levels in … Read more
