Indian funds bought more than $1 billion of shares daily for three straight sessions through Monday, helping absorb large sales by foreign investors amid a rotation into China’s rebounding markets. Domestic institutions, including mutual funds and insurers, bought equities of over $4 billion in the three sessions, according to data compiled by Bloomberg. ETMarkets.com Stocks … Read more
Nifty ended Tuesday’s session 6% lower at 21,884.50 to form a long bearish candle on the daily chart and also ended below short-term and medium-term averages. For traders now, 50-day SMA or 22,400/73,500 and 22,500/74,000 would be the key resistance areas while 21,600-21,300/71,000-70,200 would act as key intraday support zones. “We are of the view … Read more
Nifty ended Monday’s trading session 733 points higher with analysts saying that if the election results are better than expected on Tuesday the headline index can even cross the 24,000 mark. The bulls are in full control of the markets at the current juncture and are using every minor pullback to create long positions. Support … Read more
Ahead of the much-anticipated outcome of the Lok Sabha election results, the FII long-short ratio stands at a multi-year high of 87% shorts in the index futures, coupled with heavy selling in the cash market. On the other hand, retail investors are holding highly leveraged long positions. “Both these factors are a bit scary. That … Read more
Nifty formed a long-legged Doji candle on the daily charts to breach a 5-day losing streak, ending 42 points higher at 22,531. The 50-DMA is placed at around the 22,400 level, and a slip below this level could shift the test to the 22,300-22,260 zone. However, crossing 22,660 could resume the bullish trend, Om Mehra … Read more
Nifty on Monday ended 223 points higher to form a long bull candle on the daily chart as it challenged the crucial hurdle of 22,500 levels. The short-term uptrend of Nifty seems to have resumed after one day of weakness. The next upside levels to be watched are around 22,800-22,900. Immediate support is at 22,500, … Read more
Nifty on Friday ended 151 points higher after four successive days of decline and formed a bullish reversal pattern on the daily chart. The psychological mark of 22,000 holds intermediate support, followed by strong support of the 21,800-21,700 subzone. On the higher end, the 20-DEMA placed at 22,300, followed by a bearish gap of 22,430-22,500, … Read more
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
The percentage of small and mid-cap stocks trading below 20-DMA has come down to 57% from 83% last week, indicating attempts to pull back, says Anand James, Chief Market Strategist, Geojit Financial Services. However, the percentage of stocks closing below the 30-day low increased to 9% from 2% last week which is indicating that the … Read more