Nifty formed an Inside Bar pattern on the daily chart as it ended Tuesday’s trading session on a flat note as the index traded within the high and low range of the previous trading session. The near-term uptrend status of Nifty remains intact. Present range-bound movement could eventually result in an upside breakout of the … Read more
Nifty ended Thursday’s session 16 points higher above the 24,300-level to form a red candle with a minor upper shadow. The overall trend of Nifty remains positive as per smaller to larger time frame chart. Having placed at the hurdle of around 24400 levels (1.618% Fibonacci Extension), there is a possibility of this consolidation/minor dip … Read more
Nifty ended Wednesday’s session with a gain of 163 points to form a small negative candle but broke out of a sideways consolidation movement on the daily chart ahead of Thursday’s expiry. Having reached near the overhead resistance of around 24,400 levels (1.618% Fibonacci Extension), the market could shift into further consolidations/range bound movement in … Read more
Nifty ended Friday’s session with a loss of 34 points and broke the four-day winning streak by forming a small-bodied red candle. Technically, the uptrend remains intact but the RSI on the hourly chart is indicating the possibility of a pullback move or a consolidation within an uptrend, say analysts. Having moved up sharply Nifty … Read more
