Following a sharp 17% rally in Zomato shares amid blockbuster results, the new-age stock could rally to Rs 292 in the near term, with a stop loss at Rs 252-240, says Anand James, Chief Market Strategist at Geojit Financial Services. “Directional moving indicators and most oscillators point to strength and continuation of the uptrend. Fast … Read more
The Nifty opened with a gap down on Friday after reaching a new all-time high in the previous session and experienced weak price action throughout the day, closing down by 293 points. Meanwhile, the Bank Nifty has been underperforming and may continue to do so. On Friday, the Nifty closed lower by 1.2% at 24,717.70, … Read more
Nifty ended Thursday’s weekly expiry above the 25,000-level and formed a Doji candle on the daily chart, which signals range-bound action on Dalal Street. The crucial hurdle of 25,000-25,100 levels remains intact and the index was not able to break above this area decisively. Chances of further consolidation or minor dip are not ruled out … Read more
Nifty ended Monday’s session flat before failing to cross the 25,000 milestone by a whisker and form a High Wave type candle on the daily charts. The near-term uptrend status of Nifty remains intact. The market could probably show some more choppy movement or minor dip in the next 1-2 sessions before surging higher in … Read more
Will Nifty cross 25,000 this week? Fed meeting & 5 other factors to watch out for Driven by positive US GDP data, expectations of improved global demand and unflinching faith of domestic investors, the stock market has recovered all its post-Budget losses to leave many market veterans surprised. Given Friday’s momentum, Sensex looks poised to … Read more
The finance minister recently announced the implementation of Digital Public Infrastructure (DPI) in agriculture to cover farmers and their lands. This initiative is a part of the broader Digital India campaign, which is built on the foundation laid by the National Land Record Modernization Programme (NLRMP), now known as the Digital India Land Records Modernization … Read more
Nifty ended Friday’s session 429 points higher to form a long bull candle on the daily chart to signal a decisive upside reversal in the market post downward correction. The immediate supports like 10/20-day EMAs have been regained after violating below it recently. These moving averages have been offering support for the index in the … Read more
Nifty ended 66 points lower above the 24,400 level to form a High Wave type candle pattern with analysts saying that a sustainable move above 24,580 could only confirm a near-term bottom reversal pattern. The immediate support of 10 Day EMA has been broken on the downside and Nifty is currently placed near another support … Read more
Nifty ended the Budget day trading session 30 points lower on Tuesday to form a bullish hammer type candle pattern, signalling that bulls are trying to stage a comeback from lower levels. The short-term trend of Nifty remains negative with high volatility. Emergence of sharp buying and the formation of a positive candle pattern on … Read more
Nifty ended Monday’s trading session 22 points lower near the 20,500-level as traders adopted a cautious approach ahead of the presentation of the Union Budget on Tuesday. The daily and hourly momentum indicator has a negative crossover which is a sell signal. Crucial support levels to be kept handy are 24,265 (20-day moving average) and … Read more
