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
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 Friday ended 247 points higher to decisively break out of the 21,500-21,850 range on the upside. As long as the index is trading above 21,750, the breakout texture is likely to continue. Above the same, the market could move up till 22,100-22,200. On the flip side, below 21,750 traders may prefer to exit … 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
Nifty on Tuesday ended about 34 points higher to find support just above the 21-EMA on the hourly chart, prompting a strong recovery in the later part of the session. The momentum indicator maintains a positive crossover, suggesting ongoing strength. The bullish trend is expected to persist as long as it stays above 21,350 consistently. … Read more
