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
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
