Nifty ended Friday’s session 397 points higher to form a long bull candle on the daily chart with lower shadow and crossed the 21-DEMA placed at 24,365 levels. Nifty has now moved towards hurdle area of previous huge opening downside gap of 5th Aug and the said down gap is expected to be filled soon … Read more
Nifty ended Wednesday’s session near the flatline to form a small red candle on the daily chart, and indicate a probable halt in downside momentum. The immediate support of the ascending trend line has been broken on the downside recently and the significant opening downside gap of 5th August remains unfilled. This is a negative … Read more
Nifty ended Friday’s session with a gain of 250.50 points but well below the 24,400-mark and formed a Hammer candle on the weekly chart. On the daily charts we can observe that the Nifty has witnessed a fall from 25,100 – 23,900 and is now in the process of retracing that fall. It can rally … Read more
Nifty ended Thursday expiry session 180.5 points lower to form a bearish candle on the daily chart. The double top formation on intraday charts indicates further weakness from current levels, say analysts. Nifty has taken support at its 50-DEMA but finding sustained supply near 24,350 zone. Now it requires a decisive range breakout above 24,350 … Read more
Nifty ended 305 points on Wednesday with the index making an indecisive candlestick pattern on the daily chart as traders await the RBI policy announcement on Thursday, coinciding with the weekly expiry of Nifty derivatives. The index has been taking support near 24,000 levels and maintaining the 50-DEMA support despite turbulence, resulting in a relief … Read more
Nifty ended Monday’s session with a loss of 662 points to form a long bear candle on the daily chart and end below its 20-DMA. The index also indicated that the recent all-time high of 25,078 of 1st August could be considered as an important top reversal pattern. The short-term trend of Nifty is sharply … Read more
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 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 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
