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
The Indian market closed higher for the fourth consecutive day in a row on Friday. The S&P BSE Sensex rose more than 800 points while the Nifty50 closed just a shade below 21,900 levels. Sectorally, buying was seen in IT, realty, oil & gas and public sector while selling was seen in healthcare, utilities and … 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
Nifty on Wednesday ended 74 points higher to take support near 20-DMA and form a Bullish Piercing candlestick pattern on the daily chart, suggesting potential bullish momentum. “We are of the view that, 20-day SMA or 21,500/71,250 could act as a sacrosanct support level for the traders. Above the same, the pullback formation is likely … Read more
Nifty ended 32 points higher to form an Inside Bar candle on the daily chart on Tuesday, which indicated indecisiveness between bulls and bears. For traders now, 21,725/72,000 would act as a key level to watch out for. “Below 21,725/72,000, the weak sentiment is likely to continue. Below the same, the market could retest the … Read more
Nifty on Monday ended 198 points lower to form a bearish engulfing candle on the daily chart. The short-term trend of Nifty has turned down from the highs after a small rise and the selling pressure seems to have started to emerge from near 21,750-21,850 levels. The next lower supports to be watched at 21,350, … Read more
Over the past few years, the banking industry has enjoyed a favourable market sentiment, as evidenced by Bank Nifty’s impressive two-year total returns from CY22 to CY23, registering a growth of 35.8%. This growth surpassed the 24% increase seen in the Nifty50 during the same period. Fortunately, this positive sentiment towards banks is not merely … Read more
