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
Traders must be cautious while being aggressively bullish on the market this week after the recent swings, said technical analysts. NTPC, Tata Power, TCS, Infosys, Dr Reddy’s, Maruti, Siemens, AB Capital, Exide, Coal India, and BSE could continue to witness strong buying interest, according to technical analysts. SUDEEP SHAH HEAD – TECHNICAL AND DERIVATIVE RESEARCH, … Read more
Foreign portfolio investors have bought domestic equities worth Rs 2,053 crore in the two sessions in February after remaining net sellers in January where they sold shares worth Rs 25,744 crore. The first two sessions in February have seen FPI inflows of Rs 2,053 with Nifty gaining by 128 points. On Thursday, the FPIs shopped … Read more
“We do expect that this rally can extend further. It is not a one-day rally and as we have already marked a new all-time high, overall if we analyse the structure, the short covering action was clearly there,” says Rajesh Palviya, Axis Securities. Let us talk about that record high rally that we saw on … Read more
Nifty on Friday ended 156 points higher to form a candle resembling bearish shooting star on the daily chart. The short-term uptrend status of Nifty remains intact. But, the overall chart pattern suggests a possibility of high volatility at the new highs. Any attempt of upmove from here could encounter strong resistance around 22,100 -22,200 … Read more
Interim budget does in no way disturb my thesis – Nifty of 50,000 by 2030. This is more than double the current Nifty level of 22,000. However, over seven years, the CAGR (compound annual growth rate) works out to only 12%. Budgets, such as this one, gently nudge things towards my Nifty target. How? Considering … 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
Mumbai: Analysts at most top brokerages trimmed or retained share price targets on Bajaj Finance after the non-bank lender’s third-quarter results missed estimates. The stock fell 5.10% on Tuesday to close at ₹6,825, emerging as the top Nifty loser on Tuesday. The average analyst price target on Bajaj Finance available on Bloomberg after the third … 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 Tuesday ended 385 points higher to form a long bull candle on the daily chart, indicating chances of an upside breakout of the hurdle at 21750 in the short term. The negative chart pattern like lower tops and bottoms is on the verge of negation as Nifty moved above the previous lower top … Read more
