Nifty ended Monday’s session with a loss of 662 points to form a long bear candle on the daily chart and end below its 20-DMA. The index also indicated that the recent all-time high of 25,078 of 1st August could be considered as an important top reversal pattern. The short-term trend of Nifty is sharply … Read more
Nifty ended Thursday’s weekly expiry above the 25,000-level and formed a Doji candle on the daily chart, which signals range-bound action on Dalal Street. The crucial hurdle of 25,000-25,100 levels remains intact and the index was not able to break above this area decisively. Chances of further consolidation or minor dip are not ruled out … Read more
Nifty ended Tuesday’s session 21 points higher to form a Doji candle as 25,000 emerged as a strong hurdle. The short-term trend of Nifty continues to be choppy, but the near-term uptrend status remains intact. The overall chart pattern is signaling some more consolidation or minor dip in the next 1-2 sessions before bouncing back … Read more
Nifty ended Monday’s session flat before failing to cross the 25,000 milestone by a whisker and form a High Wave type candle on the daily charts. The near-term uptrend status of Nifty remains intact. The market could probably show some more choppy movement or minor dip in the next 1-2 sessions before surging higher in … Read more
Nifty ended Friday’s session 429 points higher to form a long bull candle on the daily chart to signal a decisive upside reversal in the market post downward correction. The immediate supports like 10/20-day EMAs have been regained after violating below it recently. These moving averages have been offering support for the index in the … Read more
Nifty ended Thursday expiry on a flat note but formed a bullish counterattack-type pattern on the daily chart despite a weak global trade setup. The index is currently holding immediate and key support at its 20-daily EMA, and maintaining this level will help attract bullish strength, according to chartists. The short-term trend of Nifty continues … Read more
Nifty ended 66 points lower above the 24,400 level to form a High Wave type candle pattern with analysts saying that a sustainable move above 24,580 could only confirm a near-term bottom reversal pattern. The immediate support of 10 Day EMA has been broken on the downside and Nifty is currently placed near another support … 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
