Nifty ended Thursday’s weekly expiry session 51 points higher to form a high wave type candlestick on the daily charts. The short-term trend of Nifty continues to be positive amid high volatility. Having moved above the hurdle of 22,250 levels (mid part of Tuesday’s long bear candle) recently, the index could move towards the next … Read more
Nifty ended Wednesday’s session 42 points lower to form a bearish engulfing pattern on the daily chart. Though, Nifty placed at the highs, there is still no confirmation of any significant reversal pattern building at the highs. Further weakness only below 23,300 levels could be considered as a short-term top reversal pattern. Further sustainable upside … Read more
Nifty ended Tuesday’s trading session 92 points higher to form a Doji candle as the short-term trend of the index continues to be positive with range-bound action. Having sustained above the hurdle of 23,515 levels (1.382% Fibonacci extension), one may expect Nifty to move towards the next resistance of 1.786% Fib extension at 23,950 levels … Read more
Despite Indian benchmark indices Nifty50 and Sensex gaining over 4% in June, Foreign Portfolio Investors (FPIs) have remained unenthusiastic, offloading Indian equities worth Rs 3,064 crore so far this month. In 2024 year-to-date, FPIs have sold stocks worth Rs 26,428 crore. This trend continued from May and April, when FPIs sold shares worth Rs 34,257 … Read more
Nifty ended Friday’s session with a gain of 67 points to form a long-legged Doji-type candle pattern, hinting at chances of a trend reversal next week. Nifty continued to show range-bound action within 23,300-23,500 levels and still there is no early signs of any breakouts on either side. A decisive move above 23,500 levels is … Read more
Nifty ended Wednesday’s session with a gain of 58 points but saw the formation of a small negative candle with upper shadow on the daily chart to signal range-bound action at the crucial hurdle of around 23,400-23,500 levels. The overhead resistance of key Fibonacci extension, opening upside gap of 4th June, upward sloping resistance line … Read more
Nifty ended flat on Tuesday but formed a Doji candle on the daily chart and hinted at the possibility of a minor downward correction in the short term. The index is currently placed at the hurdle of 23,400-23,500 levels (1.382% Fibonacci projection), weekly hanging man and the opening downside gap of June 4, which are … Read more
Nifty on Monday ended 31 points lower to form a small red candle with minor upper and lower shadow on the daily chart. The near-term trend of the index remains positive. However, having placed at the crucial hurdle around 23,300 levels, the chances of downward correction could be high in the short term. Immediate support … Read more
The Indian market closed in the green for the second day in a row on Thursday tracking positive cues. The S&P BSE Sensex rose nearly 700 points while the Nifty50 rose more than 200 points. Sectorally, buying was seen in capital goods, public sector, and realty stocks. Stocks that were in focus include names like … Read more
Nifty on Thursday formed a Doji candle on daily chart, which indicates indecisiveness prevailing in the marketplace at current juncture. The short-term trend of Nifty continues to be positive amid high volatility. Having moved above the hurdle of 22,250 level (mid-part of Tuesday’s long bear candle) recently, Nifty could move towards the next upper hurdle … Read more
