Nifty on Thursday ended 97 points higher to form a bullish engulfing candlestick pattern, which indicates a short-term bottom reversal for the index. The index is currently placed at the edge of breaking above the immediate hurdle of 21,850 level and a decisive move above this resistance is likely to pull Nifty towards 22,000-22,100 levels … Read more
Nifty on Tuesday ended 127 points higher to form a long bull candle with a lower shadow on the daily chart as the index bounced back from near the support at 21,600 level. The short-term trend of Nifty remains choppy with alternative candle formations like bull and bear. A sustainable move above the immediate resistance … Read more
Nifty on Monday ended 166 points lower to close below the 20-DMA and form a lower top on the daily chart which signalled a diminishing bullish sentiment. A long bear candle was seen on the charts The momentum indicator aligns with this bearish outlook, displaying a crossover. Nifty might remain in sell-on-rise mode as long … Read more
Suggesting a bullish momentum in the index that could take it to fresh peaks, Nifty on Tuesday ended 158 points higher and formed a hammer candlestick pattern on the daily charts. Minor positive patterns like higher tops and bottoms are intact and the market is now on the way up toward the new higher top … Read more
Nifty on Monday formed a bearish engulfing candle as it ended 82 points lower after witnessing follow-through selling pressure from the upper boundary at 22,000. Present weakness is unlikely to damage the near-term uptrend status of the market and one may expect chances of an upside bounce from the lower levels. Immediate support is to … Read more
Nifty on Wednesday ended 204 points higher above the 21,700 mark to form a Piercing Line pattern on the daily chart ahead of tonight’s US Fed meeting outcome and tomorrow’s Interim Budget. On the monthly chart, Nifty ended flat but formed a Doji candle after a two-month rise, indicating indecision at higher levels. Having moved … Read more
Nifty on Tuesday ended 215.5 points lower to form a bearish dark cloud cover candle on the daily chart ahead of the two-day Fed meeting, which begins tonight and Thursday’s Interim Budget session. “Having bounced back sharply from the lows recently and forming a new swing high on Tuesday at 21,813 levels, there is a … Read more
Nifty on Thursday ended 101 points lower to form a small negative candle with a minor lower shadow on the daily charts, indicating a sell-on-rise opportunity in the market on monthly F&O expiry.The short-term trend of Nifty remains choppy with weak bias. The market could encounter strong resistance around 21,500-21,600 levels in the coming sessions. … Read more
Nifty on Wednesday ended 215 points higher to form a bullish piercing line candle on the daily chart and was placed at the hurdle of mid part of Tuesday’s long bear candle at 21,500 level.The short-term trend of Nifty seems to have reversed up, but the uncertainty remains in the market at the highs. The … Read more
Nifty on Tuesday ended 333 points lower to form a long bear candle on the daily chart with analysts warning that one may expect more weakness from here to form a new lower bottom of the sequence.The short-term trend of Nifty is down and one may expect more weakness in the short term. The next … Read more
