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
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
