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
After creating an all-time high of Rs 22,794 on May 3, Nifty has continued its downward spiral. On Monday, Nifty closed at Rs 21,104, below its 50 DEMA for the fourth time since the peak. Highest outstanding OI for Nifty Weekly Series Highest Call OI- 22,200 (1,66,554), 22,300 (1,91,981), 22,400 (1,74,825)Highest Put OI- 22,100 (1,61,181), … Read more
Nifty on Friday ended 98 points higher to form an Inside Bar candlestick pattern on the daily chart. If the headline index manages to hold Thursday’s low of 21,932, a pullback looks possible to chartists. Last month, the index found support around 21,780 levels, and the 100-Days exponential moving average (DEMA) is placed near 21,820. … Read more
Nifty ended Thursday expiry weaker by 345 points as the index broke below both the lower boundary of its upward channel and the support of the 50-day exponential moving average (DEMA) around the 22,150 level. The daily chart saw the formation of a long negative candle. Nifty has been in a larger range movement of … Read more
Nifty on Wednesday ended flat to form a high wave type candle pattern, which indicates chances of an upside bounce. The positive chart pattern like higher tops and bottoms is intact as per daily time-frame chart and presently the market is in an attempt of new higher bottom formation. The short-term trend remains weak, but … Read more
Mumbai: India’s Volatility Index, or VIX, a fear gauge of the stock market, surged to a 14-month high fuelled by growing expectations of sharp swings in equities in the run-up to the outcome of the general elections early in June. The index, which gained 2.7% on Tuesday to close at 17.05, has gained over 35% … Read more
Nity on Tuesday ended 140 points lower to form a long negative candle pattern with a minor lower shadow on the daily chart and found support around the 50-day exponential moving average at 22,240 levels. The lower tops and bottoms on the daily chart are intact and the present weakness could be in line with … Read more
Reliance Industries Ltd, part of the oil & gas space, consolidated in a narrow range after hitting a record high earlier in March 2023, but a bounce back from its 50-DMA on daily charts suggests that bulls are here to stay. If the momentum continues, short-term traders can look to buy the stock for a … Read more
Gujarat Pipavav Port Ltd (GPPL), part of the port services, rallied by about 30% in the last 3 months to hit a fresh record high earlier in March 2024 and the chart pattern suggests that the rally may not be over yet. Short-term traders can look to buy the stock now for a possible target … Read more
Asian Paints Ltd, part of the paint sector, has remained range-bound despite benchmark indices trading fresh record highs in the short to medium term. The paint stock has fallen in double digits in the last 3 months, but the price action suggests that it is forming a base around 2700 levels on weekly charts. Short-term … Read more
