Tech View: Nifty crosses 20-DEMA hurdle. What traders should do on Thursday

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

Tech View: Nifty forms small green candle on weekly chart. What traders should do next

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

Tech View: Nifty faces key hurdle at 20-EMA. What traders should do on Friday

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

Best equity mutual funds deliver up to 84% return in FY24. Do you own any?

ETMutualFunds looked at the performance of equity mutual funds in FY24 (April 1, 2023 to till date). Nifty50 was up by 27.05% and S&P BSE Sensex was up by 23.32%. The toppers were from sectoral/thematic funds. Aditya Birla SL PSU Equity Fund, the topper in the list, offered 84.86% in the financial year 2023-24 so … Read more

Tech View: Nifty RSI gives bearish crossover. What should traders do on Thursday?

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

Tech View: Nifty gives up key support level. What traders should do on Wednesday

Nifty on Tuesday ended 238 points lower to sneak below its 50-DEMA for the first time in the last four months and form a long bear candle on the daily chart. The overall chart pattern of Nifty is weak and one may expect further decline in the near term. The next lower levels to be … Read more

Tech View: Nifty forms small positive candle. What traders should do on Tuesday

Nifty on Monday ended 32 points higher to form a small positive candle on the daily chart with minor upper and lower shadow. During the day, the index managed to hold on to the support zone of 21,900 – 21,850 where support parameters in the form of the 40-day average and the previous swing low … Read more

Tech View: Nifty momentum indicators blink red. What traders should do next week

Nifty on Friday ended 123 points lower to form a small negative candle on the daily charts and a bearish engulfing pattern on the weekly charts. The short-term and the near-term trends of Nifty remain weak. A decisive move below 21,900 could open sharp weakness down to the next lower support of 21,500 levels in … Read more

Tech View: Nifty forms Inside Bar candle in pullback rally. What traders should do on Friday

Nifty on Thursday ended 149 points higher to form an Inside Bar candle on the daily chart as it consolidated around the lower half of the previous session’s candle on the daily timeframe. The positive chart pattern like higher tops and bottoms is still intact, as the Nifty managed to make a new higher swing … Read more

Tech View: Nifty forms a Doji candle. What should traders do on Wednesday

Nifty on Tuesday ended flat to form an indecisive Doji candle on the daily charts. The immediate resistance for Nifty is at 22,500, and a break above this on a closing basis would signal a resumption of the upward movement. Conversely, the immediate support is positioned at 22,200-22,150, and sustaining above this level could witness … Read more