Nifty formed a long-legged Doji candle on the daily charts to breach a 5-day losing streak, ending 42 points higher at 22,531. The 50-DMA is placed at around the 22,400 level, and a slip below this level could shift the test to the 22,300-22,260 zone. However, crossing 22,660 could resume the bullish trend, Om Mehra … Read more
“We have seen a profit booking decline in last four-five trading session and supports are slightly shifting lower. However, we are at 23-24 VIX, so wild swing of 200-300 points intraday cannot be ruled out,” says Chandan Taparia, Motilal Oswal.What is the positioning right now? From last hour of trade yesterday, which saw panic, we … Read more
Nifty ended Thursday with declines of 216.05 points 1% at 22,488.65 led by strong selling pressure in most sectors. The 50-stock index fell for the fifth straight session and is now trading below the crucial 21-day Exponential Moving Average (21EMA). “The recent decline has disrupted the positive momentum, with Nifty falling below its crucial short-term … Read more
Nifty on Wednesday ended 183 points lower near the 22,700 level as the index formed a dark cloud cover candlestick pattern on the daily chart. Support for Nifty is now seen at 22,675-700 and 22,500 levels. On the higher side, the immediate resistance zone is at 22,825-850 levels and the next psychological resistance is at … Read more
Nifty on Monday ended 25 points lower to form a minor bearish candle on the daily chart. The up move was not supported by the momentum as on the hourly time frame there is a negative crossover, analysts say. “Thus, we shall expect more consolidation before the next leg of an uptrend resumes. Also, after … Read more
Nifty on Friday ended near the flatline after climbing the 23,000-mark for the first time in history. The index formed a Doji candle during the day after Thursday’s big bull candle. On the daily chart, Nifty continues to hold above the 20 and 50-day SMA, which is a positive signal. The 14-day RSI at 67.5 … Read more
Nifty ended the Thursday weekly expiry stronger by 370 points at record high levels to form a long bull candle on the daily chart. On the higher end, above 23,000, the index might move towards 23,500 in the short term. On the lower end, support is placed at 22,800; the strength could remain intact as … Read more
Nifty on Tuesday ended 27 points higher to form a small positive candle on the daily chart while consolidating in a range between 22,400-22,600 levels. The index continues to hold above the 20 and 50-day SMA, which is a positive signal. The 14-day RSI at 56.38 is rising and not overbought, which is encouraging. The … Read more
The immediate support for Nifty is around 22,300, followed by 22,100-22,000; and any dips should be seen as a buying opportunity as the index could attempt to rally towards new record highs soon, according to technical analysts. Stocks such as M&M, TVS Motors, Coal India, Grasim, ACC, Gail, Concor, National Aluminium, MTAR Tech, APL Apollo, … Read more
Nifty ended Saturday’s small and special trading session 36 points higher to close above 22,500 for the first time in several days. However, a small bodied candle on the daily chart suggests very little about the future direction of the price, analysts say. On the weekly chart, a Piercing Line-type pattern was seen, which hinted … Read more
