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
Broadly trading in the range of 21,880- 22,200 since the last three trading sessions, Nifty on Tuesday ended 92 points lower at the 22K-mark. Immediate support was seen at 21,850, a break of which would again tilt the set-up in favor of the bears. One needs to take an open-minded approach in such a scenario. … Read more
Technical analysts continue to maintain a cautious outlook on Nifty for the truncated trading week ahead. According to analysts, profit-taking may resume until the index decisively reclaims 22,200. Some of the stocks recommended by analysts for short-term trades include Apollo Hospitals, Eicher Motors, Hero Motocorp, Maruti, Bajaj Auto, Sun Pharma, Tata Motors, ABB, Cummins India, … Read more
“The Nifty IT sector has faced downward pressure for the past few days. However, stalwarts like TCS and HCL Tech exhibit resilience on longer-term charts, suggesting potential buying opportunities amid corrections. We remain watchful of Nifty IT’s ability to hold the 100-day moving average; sustaining above it could signal further buying interest,” says Rajesh Palviya … Read more
Nifty on Friday ended 85 points higher to form a green candle with a minor upper shadow on the daily chart. On the weekly scale, a small positive candle with a long lower shadow was seen. The short-term trend of the Nifty remains positive. A sharp move above the hurdle of 22,200-22,300 levels could pull … Read more
Mumbai: Indian stocks rose on Thursday, tracking the strength in global markets, as the US Federal Reserve’s policymakers reaffirmed that there could be three interest rate cuts this year fuelled optimism among investors. The Nifty closed above 22,000, considered a psychologically important level, while the beaten-down mid-cap, small-cap and PSU stocks rebounded the most in … 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
Benchmark indices rebounded on Wednesday amid a largely firm trend in global equities. The 30-share Sensex rose 89.64 points to settle at 72,101 and the Nifty climbed 21.65 points to finish at 21,839. Stocks that were in focus included names like LIC, which fell 1.21%, Zomato, which jumped 5%, and Bharti Airtel, whose shares rose … Read more
Nifty on Wednesday ended 22 points lower to form a Doji candle on the daily charts which indicates chances of a minor pullback rally. Minor degree positive chart patterns like higher tops and bottoms have been negated recently as per the daily chart. Hence, any upside bounce from here is expected to be a lower … Read more
Indian headline indices ended with sharp cuts on Tuesday amid selling pressure in all sectors. The worst hit were FMCG, IT and energy. While The S&P BSE Sensex settled at 72,012.05, lower by 736.37 points or 1.01%, the broader Nifty closed at 21,817.45, down by 238.25 points or 1.08%. India VIX, a measure of volatility … Read more
