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
Benchmark indices fell on Monday due to profit booking amid mixed trends in global markets. The 30-share Sensex settled 523 points lower at 71,072 and the broader Nifty also closed 166 points lower at 21,616. Stocks that were in focus included names like Global Health, which rose 6.34%, MCX, which dropped 9.03%, and Apollo Hospitals, … 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
Technical charts and FIIs’ net short position of 65% indicate that markets could undergo either a timewise corrective phase or a price-wise correction. Technical analysts suggest 21,680 would serve as a support for Nifty on a closing basis, and a close below this level could lead to a correction towards 21,450-21,400. ACC, Apollo Hospitals, Bharat … Read more
Nifty, which has been looking for a directional headway on either side, ended the week 0.33% down with all major news trigger events like Budget, earnings, US Fed and RBI policy meetings behind us. Anand James, Chief Market Strategist, Geojit Financial Services, says this data vacuum presents an opportunity for time correction. “But our modest … Read more
YES Bank shares jumped 32% in the week to witness a breakout with strong volumes, indicating a significant base formation on the technical chart. “The support for the stock is established at Rs 27, and any pullbacks towards this support level present an opportunity to initiate fresh long positions. Sustaining above the support at Rs … Read more
Nifty on Thursday fell over 200 points to form a strong bearish candle on the daily chart, which might negate the intermediate bullish undertone. The short-term trend of Nifty seems to have turned down and one may expect some more weakness in the short term. The near-term uptrend of the market remains intact and further … Read more
Nifty on Wednesday ended flat with a gain of just one point and formed a small negative candle with a lower shadow on the daily chart ahead of the RBI policy outcome tomorrow. The short-term trend of Nifty continues to be positive. There is a higher possibility of an upside breakout of 21,950-22,000 mark in … 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
