Nifty on Friday ended 52 points higher to form a Doji candle on the daily chart. Analysts say sharp negative implications can’t be expected as the pattern has been formed amidst range-bound movement. The short-term uptrend status of Nifty remains intact, but the market is likely to find resistance around 21,800-21,850 levels in the coming … Read more
Nifty on Thursday ended 141 points higher to form an Inside Bar candle on the daily chart. The index’s swift recovery following two bearish days indicates continued dominance by bulls in the market. The present sentiment suggests a promising trajectory towards 21,800-21,850 for the Nifty, analysts said. The hourly momentum indicator has triggered a positive … Read more
Nifty on Wednesday ended 148 points lower to form a long negative candle on the daily chart placed at the edge of breaking below the immediate support of 10-day EMA. The positive chart pattern like higher tops and bottoms is intact on the daily chart and the present weakness could be in line with the … Read more
Nifty on Tuesday ended 76 points lower to form a reasonable negative candle on the daily chart with a minor lower shadow, which technical analysts say indicates a reversal in the short-term. Positive chart pattern like higher tops and bottoms is intact on the daily chart and present consolidation/weakness is in line with the formation … Read more
After hitting a fresh record high on the first day of the calendar year, Nifty on Monday ended 11 points higher to form a high wave type candlestick pattern on the daily chart. The positive chart pattern like higher tops and bottoms is intact on the daily chart and the Nifty is currently forming a … Read more
NEW DELHI: Nifty on Wednesday rallied 213 points to comfortably surpass the hurdle at 21,600 and formed a long bull candle on the daily chart. Positive chart patterns like higher tops and bottoms are intact as per the daily chart and currently, Nifty is moving towards the new higher top formation. Still, there is no … Read more
NEW DELHI: Nifty on Tuesday ended 92 points higher on the third day of the rally and formed a small green-bodied candle on the daily charts. “The short-term trend nevertheless remains down. Momentum readings like the 14-day RSI too remain in decline mode after dropping sharply from overbought levels last Wednesday. This calls for caution … Read more
The last week of 2023 is anticipated to be sluggish as many foreign institutional investors (FIIs) are in holiday mode to celebrate Christmas and New Year, says Kunal Shah, senior technical & derivative analyst at LKP Securities. “Despite this, the Indian market is likely to exhibit strength, and a sustained Nifty level above 21,300 could … Read more
NEW DELHI: Nifty on Friday finished 94 points higher but ended the week 0.5% down to break its seven-week winning streak. Momentum readings like the 14-day RSI too remain in decline mode after declining sharply from overbought levels on Wednesday. Nifty would need to cross the recent highs of 21,593 to reverse the current downtrend. … Read more
The Nifty Bank fell more than 1% for the week ended 22 December 2023, tracking the mixed trends seen in Indian markets amid a rise in Covid cases, profit booking at higher levels, and geopolitical concerns. The Nifty Bank fell from 48,143 as on 15th December 2023 to 47,491 recorded on 22 December 2023, which … Read more
