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
Nifty ended Thursday’s trading session 188 points higher, just above the 24,800 level, to form a long bull candle on the daily chart on Thursday expiry where 10-day EMA continued to offer support during consolidations. Nifty is now advancing towards a key overhead resistance of 24,960 (1.786% Fibonacci extension, taken from the bottom of March … Read more
Nifty ended Tuesday’s session with a gain of 26 points and formed Doji candle once again with analysts saying that one more such session can lead to a reversal pattern. The near-term uptrend of Nifty remains intact. Though Nifty is consolidating at the higher levels, there is no confirmation of any significant reversal pattern building … Read more
Nifty on Thursday ended flat but formed an Inside Bar candle on the daily chart and found support at 10-day EMA. Having bounced back from this support in two sessions, the odds of upside bounce is likely in the short term, chartists say. The underlying trend of Nifty remains choppy with a positive bias. A … Read more
Nifty on Tuesday ended 113 points higher to form a long bull candle on the daily chart and also hit a fresh record high intraday. The underlying trend of Nifty continues to be positive. Having moved above the key overhead resistance of 24,400 levels (1.618% Fibonacci extension), the Nifty could now advance towards another important … Read more
Nifty ended Monday’s session flat amid non-directional activity, indicating indecisiveness between bulls and bears and formed a Doji-type candle on the daily chart. The short-term trend of Nifty continues to be positive. There is a possibility of continuation of this range movement for the next 1 or 2 sessions before witnessing further up move above … Read more
Nifty ended Friday’s session 22 points higher to form a bullish counterattack type candle pattern, which signals a possible comeback for bulls after a small dip. The underlying trend of Nifty continues to be positive. There is a possibility of an upside breakout hurdle around 24,400-24,500 levels in next few sessions. Immediate support is placed … Read more
Nifty ended Tuesday’s session 183 points higher to form a long bull candle on the daily chart and surpassed 23,600 hurdle after two weeks of consolidation. The short-term trend of Nifty remains positive. The market is now showing early signs of upside breakout in the near term. The next upside levels to be watched are … Read more
Nifty ended Monday’s trading session with a gain of 37 points to form a bullish piercing type candle pattern in the last week of June derivative series. The short-term trend of Nifty remains positive amid range movement. Having bounced back from near the lower range of 23,300 levels, there is a possibility of Nifty testing … Read more
