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 Bank, which has been underperforming in the last few weeks, looks ready for a smart recovery in the short term. “Going forward, a move above 51,500 might induce a decent rally towards 52,500. On the lower end, support is placed at 51,000,” says Rupak De, Senior Technical Analyst, LKP Securities. Edited excerpts: How would … Read more
Nifty witnessed a sharp recovery a day after monthly F&O expiry, to close near the all-time high with gains of 429 points or 1.7% at 24,835. The broader market too ended in green, up by more than 1%. The Nifty50 index started on a flattish note this week considering global cues however there was a … 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 Thursday expiry on a flat note but formed a bullish counterattack-type pattern on the daily chart despite a weak global trade setup. The index is currently holding immediate and key support at its 20-daily EMA, and maintaining this level will help attract bullish strength, according to chartists. The short-term trend of Nifty continues … 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
Nifty ended Friday’s session 270 points lower at 24,531 to form a long bear candle on the daily chart and a Shooting Star candle on the weekly chart to indicate temporary weakness in the near future. The short-term trend of Nifty seems to have reversed from all-time highs. The formation of candle patterns as per … Read more
Nifty ended Thursday’s trading session 188 points higher, just above the 24,800 level, to form a long bull candle on the daily chart on Thursday expiry where 10-day EMA continued to offer support during consolidations. Nifty is now advancing towards a key overhead resistance of 24,960 (1.786% Fibonacci extension, taken from the bottom of March … Read more
Nifty ended Tuesday’s session with a gain of 26 points and formed Doji candle once again with analysts saying that one more such session can lead to a reversal pattern. The near-term uptrend of Nifty remains intact. Though Nifty is consolidating at the higher levels, there is no confirmation of any significant reversal pattern building … Read more
