Nifty on Friday ended flat but above the 22,200 level to form a higher high and higher low series formation on both the daily and weekly charts. Nifty has been in a consolidation zone for over a month and we may soon see a breakout or breakdown with the former. However, for any significant rally, … Read more
Nifty on Thursday ended 162 points higher to form a long bull candle with a long lower shadow on the daily charts as the short-term trend of Nifty turned up sharply after a small decline. Having breached the recent highs of 22,249, the Nifty is expected to move towards the next upside target of 22,500-22,600 … Read more
Nifty on Wednesday ended 142 points weaker to form a Bearish Engulfing pattern on the daily chart, indicating a potential pause in the ongoing rally. The bullish chart pattern like higher tops and bottoms continued as the per daily timeframe chart and Wednesday’s swing high of 22,249 could now be considered as a new higher … Read more
Private largecap bank stocks like HDFC Bank, ICICI Bank, Axis Bank, and IndusInd Bank, which together form around 60% of Bank Nifty, saw Long buildup or shorts being covered on a week-on-week basis, says Anand James, Chief Market Strategist, Geojit Financial Services. “Delivery buying has started to pick up this week in the case of … Read more
Nifty on Friday ended 139 points higher above the 22,000 mark to form a Spinning Top candle on the daily chart and indicate indecisiveness. The index looks set to test record-high levels next week. The short-term moving averages are below the price action and should continue to support the indices on every decline. With 22,000 … Read more
Nifty on Thursday ended 71 points higher above the 21,900-level to form a Doji-type candlestick on the daily chart. Both price and momentum indicators suggest a continuation of the up move. Nifty is currently placed at the edge of moving above the minor down- trend line resistance around 21,900-21,950 levels. A decisive break above this … Read more
Nifty on Thursday ended 97 points higher to form a bullish engulfing candlestick pattern, which indicates a short-term bottom reversal for the index. The index is currently placed at the edge of breaking above the immediate hurdle of 21,850 level and a decisive move above this resistance is likely to pull Nifty towards 22,000-22,100 levels … Read more
Nifty on Tuesday ended 127 points higher to form a long bull candle with a lower shadow on the daily chart as the index bounced back from near the support at 21,600 level. The short-term trend of Nifty remains choppy with alternative candle formations like bull and bear. A sustainable move above the immediate resistance … Read more
Nifty on Monday ended 166 points lower to close below the 20-DMA and form a lower top on the daily chart which signalled a diminishing bullish sentiment. A long bear candle was seen on the charts The momentum indicator aligns with this bearish outlook, displaying a crossover. Nifty might remain in sell-on-rise mode as long … Read more
Nifty on Thursday fell over 200 points to form a strong bearish candle on the daily chart, which might negate the intermediate bullish undertone. The short-term trend of Nifty seems to have turned down and one may expect some more weakness in the short term. The near-term uptrend of the market remains intact and further … Read more
