Nifty on Friday ended 172 points lower to form a Doji candle on the weekly chart, which indicates indecisiveness prevailing in the marketplace at the current juncture. Technically, the index closed below the level of 22,500, which has been acting as a minor support for the last couple of days. While this is a negative … Read more
Nifty on Wednesday ended 34 points higher to form a Doji candle on the daily chart, which indicates indecisiveness prevailing in the marketplace at the current juncture as it coincides with a critical resistance level of 61.8% retracement and a bearish gap. Going ahead, 22,500 level remains a significant resistance on the monthly expiry day, … Read more
Nifty on Tuesday ended 32 points higher to reclaim its level above 20-DEMA placed at 22,309 and form a small negative candle, which is indicating ongoing range bound movement in the market. The near-term uptrend status of Nifty remains intact and the short-term trend is choppy. Further consolidation or minor dip could be a buying … Read more
Nifty on Thursday ended 152 points lower to fall below the 22,000-level and form a Bearish Engulfing candle below its 50-DEMA on the daily chart. The previous closure around 21,800 is likely to be seen as the pitstop for bears, and if bulls could not barge on there, we may test the 100 DEMA placed … Read more
Nifty on Monday fell 247 points to form a Shooting Star candle on the daily chart and violated the crucial support of 20-day EMA placed at 22,370. The larger degree positive chart pattern like higher tops and bottoms is intact on the weekly chart and present weakness could be in line with the formation of … Read more
MUMBAI – The Nifty 50 ended marginally higher on Thursday, but the session witnessed volatility amid bouts of profit booking. The 50-stock index ended 0.4% higher at 22515 points. On the daily chart, the index has formed a hanging man pattern, indicating a potential bearish reversal in the short term, said Rupak De, senior technical … Read more
Nifty on Tuesday ended 9 points lower to form back-to-back Doji patterns on the daily chart, typically indicating a pause before the next move. The short-term trend of the Nifty remains positive. Though Nifty is placed at the crucial overhead resistance around 22,500 levels, there is no confirmation of any reversal pattern unfolding at the … Read more
Nifty on Wednesday ended 119 points higher to form a green candle on the daily chart. The index surpassed the hurdle of short-term moving average i.e. 20-DEMA but needs sustainability above 22,200 to extend the rebound. Daily and hourly momentum indicators are providing divergent signals, which can lead to a consolidation and hence in case … Read more
Nifty on Thursday ended 173 points higher to test the immediate hurdle of short-term moving average i.e. 20-EMA, but it couldn’t surpass it amid weekly expiry. On the daily charts we can observe that the index is in the process of retracing the fall it has witnessed from 22,526 – 21,710. The key retracement levels … Read more
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
