Even as banks and other financial stocks dragged Sensex and Nifty down following a hike in capital gains tax in Budget, smallcaps and midcaps continued to rally as if nothing changed in the Finance Bill. Sensex was down around 600 points as heavyweights HDFC Bank, ICICI Bank, Axis Bank and Bajaj twins led the downside … Read more
Nifty ended the Budget day trading session 30 points lower on Tuesday to form a bullish hammer type candle pattern, signalling that bulls are trying to stage a comeback from lower levels. The short-term trend of Nifty remains negative with high volatility. Emergence of sharp buying and the formation of a positive candle pattern on … Read more
Nifty ended Monday’s trading session 22 points lower near the 20,500-level as traders adopted a cautious approach ahead of the presentation of the Union Budget on Tuesday. The daily and hourly momentum indicator has a negative crossover which is a sell signal. Crucial support levels to be kept handy are 24,265 (20-day moving average) and … Read more
Nifty ended Friday’s session 270 points lower at 24,531 to form a long bear candle on the daily chart and a Shooting Star candle on the weekly chart to indicate temporary weakness in the near future. The short-term trend of Nifty seems to have reversed from all-time highs. The formation of candle patterns as per … Read more
Nifty ended Thursday’s trading session 188 points higher, just above the 24,800 level, to form a long bull candle on the daily chart on Thursday expiry where 10-day EMA continued to offer support during consolidations. Nifty is now advancing towards a key overhead resistance of 24,960 (1.786% Fibonacci extension, taken from the bottom of March … Read more
Nifty ended Tuesday’s session with a gain of 26 points and formed Doji candle once again with analysts saying that one more such session can lead to a reversal pattern. The near-term uptrend of Nifty remains intact. Though Nifty is consolidating at the higher levels, there is no confirmation of any significant reversal pattern building … Read more
Bulls are in full control of the market at the current juncture as Nifty ended its sixth consecutive week with gains. However, the week did witness some profit booking for Bank Nifty on the upper levels. The week broadly witnessed a range bound movement for both the indices but the prices are comfortably placed above … Read more
The pre-Budget rally that has seen Sensex and Nifty touch unclaimed peaks this week may not sustain in the run-up to the D-Day, according to historical market trends ahead of the Budget. “If history were to repeat, we should see a dip prior to the Budget announcement. So history advises traders not to chase prices … Read more
Indian markets traded in a range in the week gone by with ebbs and flows even as benchmark Nifty made a lifetime high of 24,461 levels. During the week, as many as 46 smallcap stocks delivered double digit weekly returns with five of them offering over 25% returns. HPL Electric and Power was the top … Read more
Nifty ended Friday’s session 186 points higher above the 24,500-mark as it ended the sixth consecutive week with gains and formed The index must break through the 24,600-24,620 resistance level to trigger fresh bullish momentum. Until then, investors should consider buying on dips in the Nifty, with support near 24,170, Hrishikesh Yedve of Asit C … Read more
