Chart Check: Down 30% from highs! This insurer is showing signs of bullish reversal

might be down by about 30 per cent from its September 2021 highs, but the stock is showing early signs of trend reversal which augurs well for the bulls. The stock with a market capitalisation of more than Rs 56,000 crore hit a 52-week high of Rs 1,674 on 22 September 2021, but it failed … Read more

Tech View: Nifty forms bullish engulfing candle, index all set to leap towards 16,800

The NSE Nifty 50 index, after falling for four straight days, saw a positive close on Thursday. The index in process formed a bullish engulfing candle on daily charts, which suggests bullishness. The Nifty50 opened on a negative note at 16,263.85 and slid to as low as 16,243.85. However, during the day, buying emerged at … Read more

Tech view: Nifty breaks below the support of 16,400; look for selling opportunities, say analysts

After a volatile session, largely affected by rate hike and RBI commentary, the Nifty50 ended with a cut and formed a bearish candle on daily charts on Wednesday. The index opened on a positive note at 16,474.95 but slid to as low as the 16,293.35 level. However, during the day, buying emerged at lows to … Read more

Market Movers: Defence stocks rally up to 4% after govt’s Rs 76,000 cr-push

NEW DELHI: Shares of defence companies defied the weakness in the broader market and managed to close with gains as the government as a council gave preliminary approval to military modernization projects costing Rs 76,000 crore, including the Navy’s next-generation corvettes. The approval will help cut India’s dependence on imports for military equipment as most … Read more

Tech view: Market trend likely to remain positive, Nifty moving to 16,800 in near term

After a volatile session, NSE Nifty50 index closed with minor cuts but it formed a small bullish candle on the daily charts as bulls managed to defend the crucial support of 16,400 level. It opened on a negative note on Monday at 16,530.70, and slid to as low as 16,444.55 level. However, at lows, buying … Read more

Tech View: Nifty50 forms bearish candle, analysts say ‘buy on dips’

NEW DELHI: Nifty50 on Wednesday fell for the second day and formed a small bearish candle on the daily chart. The index made a lower high formation, but analysts believe the recent positive momentum stays intact as long as the 16,400 level is held on a daily basis. Any weakness should be used to ‘buy … Read more

Tech View: Nifty breaches key resistance at 15,150, eyes further gains

NEW DELHI: Nifty50 broke above its crucial resistance at 15,150 level on Friday and formed a solid bullish candle on the daily chart, negating the formation of lower highs and lows. On the weekly scale, the index formed a Bullish Marabozu pattern. The index has set its sights on the 15,300 level, breaching which it … Read more