Nifty on Thursday ended 149 points higher to form an Inside Bar candle on the daily chart as it consolidated around the lower half of the previous session’s candle on the daily timeframe. The positive chart pattern like higher tops and bottoms is still intact, as the Nifty managed to make a new higher swing … Read more
Nifty on Wednesday ended 338 points lower to slip below its immediate support of the short-term moving average i.e. 20-DEMA and also breached the trendline support. The bullish pattern like higher tops and bottoms continued on the daily chart and the present weakness could be in line with the new higher bottom formation. But a … Read more
Nifty on Tuesday ended flat to form an indecisive Doji candle on the daily charts. The immediate resistance for Nifty is at 22,500, and a break above this on a closing basis would signal a resumption of the upward movement. Conversely, the immediate support is positioned at 22,200-22,150, and sustaining above this level could witness … Read more
Nifty on Monday fell 161 points to form a bearish engulfing pattern on the daily charts to hint at a short-term top reversal for the market. The short-term trend of Nifty seems to have turned down and the next lower levels to be watched are around 22100-22050 levels. Intraday resistance is at 22,525, said Nagaraj … Read more
Nifty on Thursday ended 19.5 points higher to form a Doji candle on the daily chart as it stayed below the psychological 22,500 mark, with call writers at the 22,500 strikes significantly increasing their positions. In the case of a dip towards, 22,390 – 22,340 it should be used as a buying opportunity as key … Read more
Nifty ended 27 points higher above the 22,400 level on Monday to form an indecisive Doji candle on the daily charts. Any dips from here could be a buying opportunity towards the support of 22,225-22,200 levels. The near-term upside targets to be watched around 22,600-22,800 levels, Nagaraj Shetti, Senior Technical Research Analyst, HDare FC Securities. … Read more
Nifty on Tuesday made a fresh peak and ended 75 points higher near the 22,200 mark to form a long bull candle on the daily charts. The index has been making a higher high both on daily and weekly charts. The short-term trend of the Nifty remains up. A decisive move above 22,200 is likely … Read more
Nifty on Thursday fell over 200 points to form a strong bearish candle on the daily chart, which might negate the intermediate bullish undertone. The short-term trend of Nifty seems to have turned down and one may expect some more weakness in the short term. The near-term uptrend of the market remains intact and further … Read more
Nifty on Wednesday ended flat with a gain of just one point and formed a small negative candle with a lower shadow on the daily chart ahead of the RBI policy outcome tomorrow. The short-term trend of Nifty continues to be positive. There is a higher possibility of an upside breakout of 21,950-22,000 mark in … Read more
Nifty on Friday ended 156 points higher to form a candle resembling bearish shooting star on the daily chart. The short-term uptrend status of Nifty remains intact. But, the overall chart pattern suggests a possibility of high volatility at the new highs. Any attempt of upmove from here could encounter strong resistance around 22,100 -22,200 … Read more
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