Tech View: Nifty forms Inside Bar candle in pullback rally. What traders should do on Friday

Tech View: Nifty forms Inside Bar candle in pullback rally. What traders should do on Friday

Nifty on Thursday ended 149 points higher to form an Inside Bar candle on the daily chart as it consolidated around the lower half of the previous session’s candle on the daily timeframe. The positive chart pattern like higher tops and bottoms is still intact, as the Nifty managed to make a new higher swing … Read more

Tech View: Nifty breaches 20-DEMA, trendline support. What should traders do on Thursday expiry

Tech View: Nifty breaches 20-DEMA, trendline support. What should traders do on Thursday expiry

Nifty on Wednesday ended 338 points lower to slip below its immediate support of the short-term moving average i.e. 20-DEMA and also breached the trendline support. The bullish pattern like higher tops and bottoms continued on the daily chart and the present weakness could be in line with the new higher bottom formation. But a … Read more

Tech View: No panic till Nifty holds above 22,000. What should traders do on Tuesday

Tech View: No panic till Nifty holds above 22,000. What should traders do on Tuesday

Nifty on Monday fell 161 points to form a bearish engulfing pattern on the daily charts to hint at a short-term top reversal for the market. The short-term trend of Nifty seems to have turned down and the next lower levels to be watched are around 22100-22050 levels. Intraday resistance is at 22,525, said Nagaraj … Read more

Tech View: Nifty call writers increase positions at 22,500 strike. What should traders do next week

Tech View: Nifty call writers increase positions at 22,500 strike. What should traders do next week

Nifty on Thursday ended 19.5 points higher to form a Doji candle on the daily chart as it stayed below the psychological 22,500 mark, with call writers at the 22,500 strikes significantly increasing their positions. In the case of a dip towards, 22,390 – 22,340 it should be used as a buying opportunity as key … Read more

Tech View: Nifty ends above 21-EMA ahead of weekly expiry. What traders should do on Thursday

Tech View: Nifty ends above 21-EMA ahead of weekly expiry. What traders should do on Thursday

Nifty on Wednesday ended 118 points higher to form a long bull candle with a long lower shadow on the daily charts. The headline index ended at a record closing high, which was above the 21EMA on the daily scale. One may expect further upside in the coming sessions and the next upside levels to … Read more

Tech View: Nifty ends with Doji candle again. What traders should do on Wednesday

Tech View: Nifty ends with Doji candle again. What traders should do on Wednesday

Nifty on Tuesday ended 49 points lower to once again form a Doji candle on the daily chart. The index is now in the process of retesting the breakout of 22,300 it gave last week. The index should move towards the next resistance zone of 22,450-500 either continuously from the current levels or maybe after … Read more

Tech View: Nifty forms Marubozu candle on Day 1 of March series. What should traders do on Saturday

Tech View: Nifty forms Marubozu candle on Day 1 of March series. What should traders do on Saturday

Nifty on Friday ended the first trading session of the March series 366 points higher above the 22,300 mark and at fresh record highs. The index formed a bullish Marubozu candle on the charts. “The index broke out of a two-month consolidation zone and such volatility contraction is usually followed by a strong rally. The … Read more

Tech View: Nifty giving non-directional signs. What should traders do on Friday

Tech View: Nifty giving non-directional signs. What should traders do on Friday

In a volatile trading session on monthly derivative expiry, Nifty ended 32 points higher just above the 21-day Exponential Moving Average (21EMA). However, the prevailing sentiment appears somewhat negative from the current level. At the lower end, crucial support is positioned at 21,950; as long as the index maintains a position above 21,950, there is … Read more

Tech View: Nifty ends near 20-DEMA. What traders should do on Thursday expiry

Tech View: Nifty ends near 20-DEMA. What traders should do on Thursday expiry

Ahead of the February series expiry, Nifty on Wednesday ended 247 points lower below the 22,000 level and around its 20-DEMA. Observing the daily chart, the index has been navigating within a rising channel. A decline below 21,950 could potentially trigger a correction towards 21,800 in the near term. Conversely, a sustained trade above 21,950 … Read more

Tech View: Nifty forms bullish engulfing chart as expiry nears. What traders should do on Wednesday

Tech View: Nifty forms bullish engulfing chart as expiry nears. What traders should do on Wednesday

Nifty on Tuesday ended 64 points higher to form a bullish engulfing pattern on the daily chart after two days of weakness. The near-term uptrend status of Nifty remains positive and bullish chart patterns like higher tops and bottoms are also intact. At the same time, the market is not gaining strength to witness an … Read more