Nifty on Monday ended 153 points higher to form a green candle on the daily chart while registering a new all-time high. Positive chart patterns like higher tops and bottoms are intact as per the daily chart, and the present upmove is in line with the new higher top formation of the pattern. The short-term … Read more
Nifty on Monday ended 135 points higher to form a Doji candle on the daily chart with the index trying to break above the crucial overhead resistance of 22,500-22,550 levels. Though Nifty is now placed at the crucial hurdle of around 22,500 levels, the overall chart pattern remains positive and we are unlikely to see … Read more
Nifty on Thursday ended 203 points higher to form a reasonable bull candle with a long upper shadow on the daily chart, reflecting selling pressure near all-time highs around 22,500 levels. The near-term uptrend of the Nifty remains intact with high volatility. The next upside levels to be watched are around 22,500-22,600 in the next … Read more
Nifty on Wednesday ended 338 points lower to slip below its immediate support of the short-term moving average i.e. 20-DEMA and also breached the trendline support. The bullish pattern like higher tops and bottoms continued on the daily chart and the present weakness could be in line with the new higher bottom formation. But a … Read more
Nifty on Monday fell 161 points to form a bearish engulfing pattern on the daily charts to hint at a short-term top reversal for the market. The short-term trend of Nifty seems to have turned down and the next lower levels to be watched are around 22100-22050 levels. Intraday resistance is at 22,525, said Nagaraj … Read more
Nifty on Thursday ended 19.5 points higher to form a Doji candle on the daily chart as it stayed below the psychological 22,500 mark, with call writers at the 22,500 strikes significantly increasing their positions. In the case of a dip towards, 22,390 – 22,340 it should be used as a buying opportunity as key … Read more
