Nifty ended Thursday’s session 16 points higher above the 24,300-level to form a red candle with a minor upper shadow. The overall trend of Nifty remains positive as per smaller to larger time frame chart. Having placed at the hurdle of around 24400 levels (1.618% Fibonacci Extension), there is a possibility of this consolidation/minor dip … Read more
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
A confident NDA could propel the Nifty towards 26,300 and beyond in the medium to long term, says Rupak De, Senior Technical Analyst at LKP Securities. Edited excerpts from a chat in which the analysts also shares two stock ideas for the week. In the post-election result week, do you see some signs of more … Read more
Nifty ended Wednesday with gains of 735.85 points or 3.36% and settled at 22,620.35 led by strong buying activity across sectors but more prominently in banks and autos. The 50-stock index ended above the downside channel support of 22,200. Analyst Ashwin Ramani, Derivatives & Technical Analyst at SAMCO Securities said call writers (bears) are exiting … 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 Wednesday ended 183 points lower near the 22,700 level as the index formed a dark cloud cover candlestick pattern on the daily chart. Support for Nifty is now seen at 22,675-700 and 22,500 levels. On the higher side, the immediate resistance zone is at 22,825-850 levels and the next psychological resistance is at … Read more
Central banks worldwide are playing a pivotal role in driving the ongoing bull run in gold prices. This article aims to dissect the intricate connection between central bank actions and the surge in gold prices, shedding light on the factors contributing to this phenomenon. Understanding Central Banks’ gold accumulation Diversification Strategy: Central banks are actively … Read more
Nifty on Friday ended near the flatline after climbing the 23,000-mark for the first time in history. The index formed a Doji candle during the day after Thursday’s big bull candle. On the daily chart, Nifty continues to hold above the 20 and 50-day SMA, which is a positive signal. The 14-day RSI at 67.5 … Read more