Nifty on Tuesday ended 238 points lower to sneak below its 50-DEMA for the first time in the last four months and form a long bear candle on the daily chart. The overall chart pattern of Nifty is weak and one may expect further decline in the near term. The next lower levels to be … Read more
Nifty on Monday ended 32 points higher to form a small positive candle on the daily chart with minor upper and lower shadow. During the day, the index managed to hold on to the support zone of 21,900 – 21,850 where support parameters in the form of the 40-day average and the previous swing low … Read more
Nifty on Friday ended 123 points lower to form a small negative candle on the daily charts and a bearish engulfing pattern on the weekly charts. The short-term and the near-term trends of Nifty remain weak. A decisive move below 21,900 could open sharp weakness down to the next lower support of 21,500 levels in … Read more
Nifty on Wednesday ended 118 points higher to form a long bull candle with a long lower shadow on the daily charts. The headline index ended at a record closing high, which was above the 21EMA on the daily scale. One may expect further upside in the coming sessions and the next upside levels to … Read more
Nifty on Tuesday ended 49 points lower to once again form a Doji candle on the daily chart. The index is now in the process of retesting the breakout of 22,300 it gave last week. The index should move towards the next resistance zone of 22,450-500 either continuously from the current levels or maybe after … Read more
Nifty on Friday ended the first trading session of the March series 366 points higher above the 22,300 mark and at fresh record highs. The index formed a bullish Marubozu candle on the charts. “The index broke out of a two-month consolidation zone and such volatility contraction is usually followed by a strong rally. The … Read more
In a volatile trading session on monthly derivative expiry, Nifty ended 32 points higher just above the 21-day Exponential Moving Average (21EMA). However, the prevailing sentiment appears somewhat negative from the current level. At the lower end, crucial support is positioned at 21,950; as long as the index maintains a position above 21,950, there is … Read more
Ahead of the February series expiry, Nifty on Wednesday ended 247 points lower below the 22,000 level and around its 20-DEMA. Observing the daily chart, the index has been navigating within a rising channel. A decline below 21,950 could potentially trigger a correction towards 21,800 in the near term. Conversely, a sustained trade above 21,950 … Read more
Nifty on Tuesday ended 64 points higher to form a bullish engulfing pattern on the daily chart after two days of weakness. The near-term uptrend status of Nifty remains positive and bullish chart patterns like higher tops and bottoms are also intact. At the same time, the market is not gaining strength to witness an … Read more
Nifty on Friday ended flat but above the 22,200 level to form a higher high and higher low series formation on both the daily and weekly charts. Nifty has been in a consolidation zone for over a month and we may soon see a breakout or breakdown with the former. However, for any significant rally, … Read more
