Nifty ended Thursday expiry weaker by 345 points as the index broke below both the lower boundary of its upward channel and the support of the 50-day exponential moving average (DEMA) around the 22,150 level. The daily chart saw the formation of a long negative candle. Nifty has been in a larger range movement of … Read more
Nifty on Wednesday ended flat to form a high wave type candle pattern, which indicates chances of an upside bounce. The positive chart pattern like higher tops and bottoms is intact as per daily time-frame chart and presently the market is in an attempt of new higher bottom formation. The short-term trend remains weak, but … Read more
After touching a fresh peak, Nifty ended last week marginally higher as earnings, Fed meeting and election-related speculations kept investors busy. While most sectors are contributing positively except for IT, banking performance is likely to heavily influence market sentiment, analysts say. “The rising VIX is indicative of potential volatility. Market can turn highly volatile in … Read more
Nifty on Friday ended 172 points lower to form a Doji candle on the weekly chart, which indicates indecisiveness prevailing in the marketplace at the current juncture. Technically, the index closed below the level of 22,500, which has been acting as a minor support for the last couple of days. While this is a negative … Read more
The short-term trend of Nifty is choppy with range-bound action. Any upside from here could encounter strong resistance around 22,800 levels. Immediate support is at 22,550 levels and a slide below the support could trigger some more weakness ahead, Nagaraj Shetti of HDFC Securities said.Open Interest (OI) data showed that on the Call side, the … Read more
The 2024 general election outcome would not have any major long-term effect on the equity markets, according to equity advisory firm FidelFolio. In its report titled ‘Deciphering Market Trends: Navigating Pre-Election Dynamics and Global Turbulence,’ FideFolio stated that the Nifty 50 is expected to be between 30,000 and 35,000 points in 3 years. According to … Read more
Nifty on Monday ended 223 points higher to form a long bull candle on the daily chart as it challenged the crucial hurdle of 22,500 levels. The short-term uptrend of Nifty seems to have resumed after one day of weakness. The next upside levels to be watched are around 22,800-22,900. Immediate support is at 22,500, … Read more
Nifty on Friday ended 150 points lower to form a dark cloud cover candlestick on the daily chart, while the weekly one saw a high wave type candle, suggesting consolidation in the near term.Nifty’s short-term trend seems to have reversed down after a reasonable rise from the lows. Immediate support is placed at 22,300 and … Read more
Nifty on Thursday ended 168 points higher to form a bullish engulfing candle following a series of small candles, suggesting meaningful buying activity during the day. The hourly momentum indicator has triggered a positive crossover which is a buy signal and thus we expect the positive momentum to continue over the next few trading sessions. … Read more
Nifty on Wednesday ended 34 points higher to form a Doji candle on the daily chart, which indicates indecisiveness prevailing in the marketplace at the current juncture as it coincides with a critical resistance level of 61.8% retracement and a bearish gap. Going ahead, 22,500 level remains a significant resistance on the monthly expiry day, … Read more
