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
Nifty on Thursday ended 162 points higher to form a long bull candle with a long lower shadow on the daily charts as the short-term trend of Nifty turned up sharply after a small decline. Having breached the recent highs of 22,249, the Nifty is expected to move towards the next upside target of 22,500-22,600 … Read more
Nifty on Wednesday ended 142 points weaker to form a Bearish Engulfing pattern on the daily chart, indicating a potential pause in the ongoing rally. The bullish chart pattern like higher tops and bottoms continued as the per daily timeframe chart and Wednesday’s swing high of 22,249 could now be considered as a new higher … Read more
Nifty on Friday ended 139 points higher above the 22,000 mark to form a Spinning Top candle on the daily chart and indicate indecisiveness. The index looks set to test record-high levels next week. The short-term moving averages are below the price action and should continue to support the indices on every decline. With 22,000 … Read more
Nifty on Thursday ended 71 points higher above the 21,900-level to form a Doji-type candlestick on the daily chart. Both price and momentum indicators suggest a continuation of the up move. Nifty is currently placed at the edge of moving above the minor down- trend line resistance around 21,900-21,950 levels. A decisive break above this … Read more
