Nifty on Tuesday ended 125 points lower to form a bearish candle on the daily chart as it recorded losses for the third straight session. The short-term trend remains weak. But, having placed near the cluster support of around 22,000 levels, one may expect an upside bounce from the lows in coming sessions. Immediate resistance … Read more
Nifty on Friday ended 234 points lower to form a Doji candle on the weekly scale. On the daily charts, the index closed below the lows of the previous 3 trading sessions which indicates weakness. The index is in the process of retracing the rise it has witnessed from 22,710–22,776. The next crucial support level … Read more
Nifty on Wednesday formed a high wave type candle on the daily chart as it ended the session 111 points higher. Nifty is currently placed at the hurdle of around 22,800 levels (ascending resistance trend line and 1.618% Fibonacci extension). Though Nifty placed near the hurdle, still there is no sign of any reversal forming … Read more
Nifty on Monday ended 153 points higher to form a green candle on the daily chart while registering a new all-time high. Positive chart patterns like higher tops and bottoms are intact as per the daily chart, and the present upmove is in line with the new higher top formation of the pattern. The short-term … Read more
It turned out to be a rather listless session for domestic equities, with the Nifty 50 ended flat as the Reserve Bank of India’s policy announcements had no major fireworks. The central bank left policy rates unchanged and also retained its stance of focussing on withdrawal of accommodation. The Nifty 50 ended flat at 22513.70 … Read more
The Nifty 50 ended on a flat note after a volatile session on Wednesday as mixed cues from global markets triggered profit booking. Rollover of positions to the May derivative series ahead of the expiry of the April series added to the volatility. While Nifty 50 ended flat at 22,434.65 points, it has formed a … Read more
Nifty on Monday ended 135 points higher to form a Doji candle on the daily chart with the index trying to break above the crucial overhead resistance of 22,500-22,550 levels. Though Nifty is now placed at the crucial hurdle of around 22,500 levels, the overall chart pattern remains positive and we are unlikely to see … Read more
Nifty on Thursday ended 203 points higher to form a reasonable bull candle with a long upper shadow on the daily chart, reflecting selling pressure near all-time highs around 22,500 levels. The near-term uptrend of the Nifty remains intact with high volatility. The next upside levels to be watched are around 22,500-22,600 in the next … Read more
Broadly trading in the range of 21,880- 22,200 since the last three trading sessions, Nifty on Tuesday ended 92 points lower at the 22K-mark. Immediate support was seen at 21,850, a break of which would again tilt the set-up in favor of the bears. One needs to take an open-minded approach in such a scenario. … Read more
Nifty on Friday ended 85 points higher to form a green candle with a minor upper shadow on the daily chart. On the weekly scale, a small positive candle with a long lower shadow was seen. The short-term trend of the Nifty remains positive. A sharp move above the hurdle of 22,200-22,300 levels could pull … Read more
