Nifty on Thursday ended flat but formed an Inside Bar candle on the daily chart and found support at 10-day EMA. Having bounced back from this support in two sessions, the odds of upside bounce is likely in the short term, chartists say. The underlying trend of Nifty remains choppy with a positive bias. A … Read more
Nifty on Tuesday ended 113 points higher to form a long bull candle on the daily chart and also hit a fresh record high intraday. The underlying trend of Nifty continues to be positive. Having moved above the key overhead resistance of 24,400 levels (1.618% Fibonacci extension), the Nifty could now advance towards another important … Read more
Nifty ended Monday’s session flat amid non-directional activity, indicating indecisiveness between bulls and bears and formed a Doji-type candle on the daily chart. The short-term trend of Nifty continues to be positive. There is a possibility of continuation of this range movement for the next 1 or 2 sessions before witnessing further up move above … Read more
Shares of PSU defence company Mazagon Dock, which ended last week 33% higher, can rally up to Rs 6,700 level before moving into a consolidation phase, says Anand James, Chief Market Strategist, Geojit Financial Services. Edited excerpts from a chat in which the analyst also reads the charts for Nifty and Nifty Bank traders. Unlock … Read more
Nifty ended Friday’s session 22 points higher to form a bullish counterattack type candle pattern, which signals a possible comeback for bulls after a small dip. The underlying trend of Nifty continues to be positive. There is a possibility of an upside breakout hurdle around 24,400-24,500 levels in next few sessions. Immediate support is placed … Read more
“Global markets are quite solid. India VIX is relaxed. Momentum, participation, smallcaps coming back yesterday. So, it is a kind of an environment where one should participate, just stick to quality and have risk management in place,” says Gautam Shah, Goldilocks Premium Research.24,200 on the screen, are you guys riding the rally or are you … Read more
Nifty ended Tuesday’s session 183 points higher to form a long bull candle on the daily chart and surpassed 23,600 hurdle after two weeks of consolidation. The short-term trend of Nifty remains positive. The market is now showing early signs of upside breakout in the near term. The next upside levels to be watched are … Read more
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
