Nifty ended Monday’s trading session with a gain of 37 points to form a bullish piercing type candle pattern in the last week of June derivative series. The short-term trend of Nifty remains positive amid range movement. Having bounced back from near the lower range of 23,300 levels, there is a possibility of Nifty testing … Read more
Indian headline equity indices closed in the red on Friday, breaking their six-session gaining streak. They were dragged by index heavyweights Reliance Industries (RIL) and Larsen & Toubro. The 50-stock index ended at 23,501.10, down by 65.90 points or 0.28%. Nifty’s struggle to hold above the day’s opening range indicates that the bullish sentiments have … Read more
Nifty ended Thursday’s weekly expiry session 51 points higher to form a high wave type candlestick on the daily charts. The short-term trend of Nifty continues to be positive amid high volatility. Having moved above the hurdle of 22,250 levels (mid part of Tuesday’s long bear candle) recently, the index could move towards the next … Read more
Nifty ended Wednesday’s session 42 points lower to form a bearish engulfing pattern on the daily chart. Though, Nifty placed at the highs, there is still no confirmation of any significant reversal pattern building at the highs. Further weakness only below 23,300 levels could be considered as a short-term top reversal pattern. Further sustainable upside … Read more
Nifty ended Tuesday’s trading session 92 points higher to form a Doji candle as the short-term trend of the index continues to be positive with range-bound action. Having sustained above the hurdle of 23,515 levels (1.382% Fibonacci extension), one may expect Nifty to move towards the next resistance of 1.786% Fib extension at 23,950 levels … Read more
Nifty is stuck in a narrow range between 23300-23500, and a break on either side will lead to trending moves, says Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities. “The underperformance of BankNifty is preventing Nifty from moving higher; for Nifty to break on the higher side, BankNifty must start performing. The undertone … Read more
Nifty ended Friday’s session with a gain of 67 points to form a long-legged Doji-type candle pattern, hinting at chances of a trend reversal next week. Nifty continued to show range-bound action within 23,300-23,500 levels and still there is no early signs of any breakouts on either side. A decisive move above 23,500 levels is … Read more
After making a new all-time high of 23,481, Nifty ended the Thursday expiry day 76 points higher to form a small negative candle with a minor lower shadow. The short-term trend of Nifty continues to be a range bound with positive bias. Previously, such sideways range movements at the higher tops have eventually resulted in … Read more
Nifty ended Wednesday’s session with a gain of 58 points but saw the formation of a small negative candle with upper shadow on the daily chart to signal range-bound action at the crucial hurdle of around 23,400-23,500 levels. The overhead resistance of key Fibonacci extension, opening upside gap of 4th June, upward sloping resistance line … Read more
Nifty ended flat on Tuesday but formed a Doji candle on the daily chart and hinted at the possibility of a minor downward correction in the short term. The index is currently placed at the hurdle of 23,400-23,500 levels (1.382% Fibonacci projection), weekly hanging man and the opening downside gap of June 4, which are … Read more
