Tech View: Nifty forms Inside Bar candle on the charts. Here’s how to trade on Wednesday

Tech View: Nifty forms Inside Bar candle on the charts. Here’s how to trade on Wednesday

Nifty formed an Inside Bar pattern on the daily chart as it ended Tuesday’s trading session on a flat note as the index traded within the high and low range of the previous trading session. The near-term uptrend status of Nifty remains intact. Present range-bound movement could eventually result in an upside breakout of the … Read more

Tech View: Nifty awaiting decisive move above 25,000. Here’s how to trade on Wednesday

Tech View: Nifty awaiting decisive move above 25,000. Here’s how to trade on Wednesday

Nifty ended Tuesday’s session 21 points higher to form a Doji candle as 25,000 emerged as a strong hurdle. The short-term trend of Nifty continues to be choppy, but the near-term uptrend status remains intact. The overall chart pattern is signaling some more consolidation or minor dip in the next 1-2 sessions before bouncing back … Read more

Tech View: Nifty bulls using intraday dips to go long. Here’s how to trade on Tuesday

Tech View: Nifty bulls using intraday dips to go long. Here’s how to trade on Tuesday

Nifty on Monday formed an Inside Bar candle on the daily chart as it ended 131 points higher at fresh closing high. Positive chart pattern like higher tops and bottoms is intact. The underlying trend of Nifty remains positive. The market is racing towards the next upside target of 24,400 levels in the near term. … Read more

Tech View: Short covering rally takes Nifty beyond 24K. Here’s how to trade on Friday

Tech View: Short covering rally takes Nifty beyond 24K. Here’s how to trade on Friday

After forming fourth successive bull candles on the daily chart, Nifty ended June derivative series above the 24,000-mark for the first time ever amid short covering. The underlying trend of Nifty continues to be positive. A sustainable move above 24000-24100 levels could pull Nifty towards another Fibonacci extension resistance of around 24380-24400 levels in the … Read more

Tech View: Nifty near hurdle zone at 22,300. What traders should do on Wednesday

Tech View: Nifty near hurdle zone at 22,300. What traders should do on Wednesday

Nifty on Tuesday ended 114 points higher to form a bullish candle on the daily chart and is now approaching the hurdle zone around 22,300 after two days of rebound. “We need to witness a decisive close above 22,200-250 levels for further strength in the Nifty. Support for the Nifty is now seen at 21,950-22,000 … Read more