The Indian market fell for the third straight day as traders preferred to book profits amid expensive valuations. The S&P BSE Sensex fell nearly 400 points while the Nifty50 managed to hold on to 22,300 levels. “Despite positive global cues, the domestic market continued to consolidate. The domestic market is witnessing profit booking due to … Read more
Nity on Tuesday ended 140 points lower to form a long negative candle pattern with a minor lower shadow on the daily chart and found support around the 50-day exponential moving average at 22,240 levels. The lower tops and bottoms on the daily chart are intact and the present weakness could be in line with … Read more
Nifty on Friday ended 172 points lower to form a Doji candle on the weekly chart, which indicates indecisiveness prevailing in the marketplace at the current juncture. Technically, the index closed below the level of 22,500, which has been acting as a minor support for the last couple of days. While this is a negative … Read more
With Nifty hitting a hat-trick of three consecutive months of positive returns in April, nervousness is increasing on Dalal Street with naysayers reminding investors of the ‘Sell in May and go away’ trading strategy. The month begins with the US Fed meeting outcome on May 1 in which traders will be closely looking for hints … Read more
Nifty on Wednesday ended about 39 points lower to form a Shooting Star pattern on the daily chart to indicate a strong possibility of further weakness from current levels. The short-term moving averages are just below the price action and should continue to support the indices on any decline. Support for Nifty is now seen … Read more
Rallies in the markets may not present a clear picture of certain key developments. This is the very nature of the markets. A little bit of digging helps reveal stories which may not be apparent in the broad sentiment which engulfs the markets. Take for instance, the banking index. In the past one year ended … Read more
Indian market snapped 5-day winning streak on Friday to close in the red tracking muted global cues. The S&P BSE Sensex fell more than 600 points while the Nifty50 managed to hold on to 22,400 levels. Sectorally, buying was seen in healthcare, realty, public sector and consumer durable while selling was seen in capital goods, … Read more
Nifty on Wednesday ended 34 points higher to form a Doji candle on the daily chart, which indicates indecisiveness prevailing in the marketplace at the current juncture as it coincides with a critical resistance level of 61.8% retracement and a bearish gap. Going ahead, 22,500 level remains a significant resistance on the monthly expiry day, … Read more
Nifty on Tuesday ended 32 points higher to reclaim its level above 20-DEMA placed at 22,309 and form a small negative candle, which is indicating ongoing range bound movement in the market. The near-term uptrend status of Nifty remains intact and the short-term trend is choppy. Further consolidation or minor dip could be a buying … Read more
Nifty on Monday ended 189 points higher to form a long-legged Doji candle pattern on the daily chart as it managed to move above the initial hurdle at 22,300 levels. If the index manages to sustain above 22,500, the market could even reach new all time highs in the near term. Immediate support is at … Read more
