Suggesting a bullish momentum in the index that could take it to fresh peaks, Nifty on Tuesday ended 158 points higher and formed a hammer candlestick pattern on the daily charts. Minor positive patterns like higher tops and bottoms are intact and the market is now on the way up toward the new higher top … Read more
Nifty on Monday formed a bearish engulfing candle as it ended 82 points lower after witnessing follow-through selling pressure from the upper boundary at 22,000. Present weakness is unlikely to damage the near-term uptrend status of the market and one may expect chances of an upside bounce from the lower levels. Immediate support is to … Read more
Nifty on Friday ended 156 points higher to form a candle resembling bearish shooting star on the daily chart. The short-term uptrend status of Nifty remains intact. But, the overall chart pattern suggests a possibility of high volatility at the new highs. Any attempt of upmove from here could encounter strong resistance around 22,100 -22,200 … Read more
Nifty on Wednesday ended 204 points higher above the 21,700 mark to form a Piercing Line pattern on the daily chart ahead of tonight’s US Fed meeting outcome and tomorrow’s Interim Budget. On the monthly chart, Nifty ended flat but formed a Doji candle after a two-month rise, indicating indecision at higher levels. Having moved … Read more
Nifty on Tuesday ended 215.5 points lower to form a bearish dark cloud cover candle on the daily chart ahead of the two-day Fed meeting, which begins tonight and Thursday’s Interim Budget session. “Having bounced back sharply from the lows recently and forming a new swing high on Tuesday at 21,813 levels, there is a … Read more
Nifty on Thursday ended 101 points lower to form a small negative candle with a minor lower shadow on the daily charts, indicating a sell-on-rise opportunity in the market on monthly F&O expiry.The short-term trend of Nifty remains choppy with weak bias. The market could encounter strong resistance around 21,500-21,600 levels in the coming sessions. … Read more
Nifty on Wednesday ended 215 points higher to form a bullish piercing line candle on the daily chart and was placed at the hurdle of mid part of Tuesday’s long bear candle at 21,500 level.The short-term trend of Nifty seems to have reversed up, but the uncertainty remains in the market at the highs. The … Read more
Nifty on Tuesday ended 333 points lower to form a long bear candle on the daily chart with analysts warning that one may expect more weakness from here to form a new lower bottom of the sequence.The short-term trend of Nifty is down and one may expect more weakness in the short term. The next … Read more
Nifty on Saturday ended 51 points weaker to form a negative candle engulfing the previous session’s bullish candle. On the weekly charts, a bearish engulfing pattern was seen. The short-term trend of Nifty remains choppy. Having faced weakness after a small rise on Saturday signalled a weak bias for the market ahead. At the higher … Read more
Nifty on Friday ended 160 points higher to form a Doji candle on the daily chart as the index reclaimed its short-term moving averages but lacked decisiveness. As long as the sharp opening downside gap of Wednesday remains open at 21,970, there is a higher probability of a sell-on rise in the market for the … Read more
