Nifty on Friday ended 160 points higher to form a Doji candle on the daily chart as the index reclaimed its short-term moving averages but lacked decisiveness. As long as the sharp opening downside gap of Wednesday remains open at 21,970, there is a higher probability of a sell-on rise in the market for the … Read more
Nifty on Thursday ended 110 points lower to form a high wave type candle pattern on the daily chart and slipped below the rising trendline, suggesting a bearish trend reversal. Having declined sharply, there is a possibility of a pullback rally in the short term, which is expected to be a ‘sell on rise’ opportunity. … Read more
Nifty on Wednesday ended 460 points lower to form a red candle on the daily charts with a decisive break below the 20-day moving average of 21,629. Both price and momentum indicators are pointing toward weakness. Nifty has engulfed the gains of the last four sessions but somehow managed to hold the support zone of … Read more
Nifty on Tuesday ended 65 points lower to face resistance around the psychological level of 22,000. The hourly momentum indicator has triggered a negative crossover indicating a loss of momentum on the upside. OI data showed that on the call side, the highest OI was observed at 22,100 followed by 22,200 strike prices, while on … Read more
Nifty on Monday ended 203 points higher to end above the 22,000 mark for the first time and formed a hammer candlestick pattern on the daily chart. On the derivative front, the 21,700PE strike added the highest open interest. With this, the supports are now dragged to the higher levels of 21,700-21,600 and sustenance above … Read more
Most technical indicators suggest a bullish formation in Nifty, indicating a potential test of the 22,400 level soon. However, technical analysts note that the ascent might be gradual due to the underperformance of bank shares. Infosys, Cipla, Aditya Birla Capital, LIC Housing, Aptus, Bharti Airtel, Birla Soft, Canara Bank, IOC, PNB, RIL, Tata Consumer, Tech … Read more
Nifty on Friday ended 247 points higher to decisively break out of the 21,500-21,850 range on the upside. As long as the index is trading above 21,750, the breakout texture is likely to continue. Above the same, the market could move up till 22,100-22,200. On the flip side, below 21,750 traders may prefer to exit … Read more
Nifty on Thursday ended 28.5 points higher but formed a small negative candle with a minor lower shadow on the daily chart, indicating a range-bound action below the immediate resistance. The market is now placed at the hurdle of a down-sloping trendline that connected recent lower highs at 21,725 level. Having shown a false downside … Read more
An estimated slowdown in revenue growth for India’s top technology companies is threatening to stall the relentless surge in the nation’s stocks, which were among Wall Street’s top emerging-market picks. As investors await these results this week, a gauge of Indian tech shares has fallen for three straight weeks after rallying for the most part … Read more
Aided by easing input cost pressures and demand recovery in select pockets, more than half of Nifty 50 companies are expected to have seen a double-digit growth in profits during the quarter ended December. Kotak Institutional Equities expects a 12% year-on-year (YoY) growth in the cumulative profit of Nifty 50 companies, and Motilal Oswal Financial … Read more
