Nifty on Tuesday ended 385 points higher to form a long bull candle on the daily chart, indicating chances of an upside breakout of the hurdle at 21750 in the short term. The negative chart pattern like lower tops and bottoms is on the verge of negation as Nifty moved above the previous lower top … Read more
Nifty on Wednesday ended 460 points lower to form a red candle on the daily charts with a decisive break below the 20-day moving average of 21,629. Both price and momentum indicators are pointing toward weakness. Nifty has engulfed the gains of the last four sessions but somehow managed to hold the support zone of … Read more
Nifty on Wednesday ended 74 points higher to take support near 20-DMA and form a Bullish Piercing candlestick pattern on the daily chart, suggesting potential bullish momentum. “We are of the view that, 20-day SMA or 21,500/71,250 could act as a sacrosanct support level for the traders. Above the same, the pullback formation is likely … 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
