New Delhi: Nifty50 on Friday climbed for the third straight day and topped the 17,100 level on a closing basis. During the day, the index took out its 200-day simple moving average with a gap-up start earlier in the day and reflected strength. The index formed a bullish candle on the daily scale. On the … Read more
Firstsource Solutions, part of the IT services industry, is down by over 50 per cent from its July 2021 highs but recent price action suggests that bulls are trying to take control, suggest experts. The stock hit a 52-week high of Rs 228.90 on 23 July 2021, but it failed to hold on to the … Read more
New Delhi: Nifty50 on Thursday settled above 16,600 level for the first time since June 2, taking its winning streak to the fifth trading session. The index formed a bullish candle on the daily chart that engulfed the previous session’s bearish candle, negating the latter’s negative impact. That said, certain indicators suggest that the index … Read more
New Delhi: Nifty50 on Tuesday settled higher for the third straight day. It formed a bullish candle on the daily chart and according to analysts 16,500 level looks a good possibility. The credibility of this upmove was enhanced as Nifty50 witnessed buying interest on dips, said Mazhar Mohammad of Chartviewindia.in. Mohammad said that the index … Read more
Domestic brokerages remain bullish on the , Rakesh Jhunjhunwala‘s largest banking bet, after a strong performance in the June quarter. The private lender, which had announced its earnings on Friday, reported a 63.53 per cent year-on-year (YoY) rise in net profit at Rs 600.66 crore compared with Rs 367.29 crore in the same quarter last … Read more
KEC International Ltd, part of the capital goods space, has fallen by about 20 per cent from its recent October 2021 highs, but a double bottom breakout in July on the daily charts suggests that bulls are trying to take control. Short-term investors can look at buying the stock now or on dips for a … Read more
A bearish candle with upper and lower shadow signals a formation of a high wave type candle pattern, which reflects high volatility in the market. “Normally, a formation of such a pattern after a reasonable upside or decline indicates an impending trend reversal,” said Nagaraj Shetti, Technical Research Analyst, Securities. For the day, the index … Read more
Nifty50 on Wednesday settled below its key support of 16,000 and formed a large bearish candle on the daily chart. Analysts said the bears have got an edge over the bulls, and some downside looks likely. The long negative candle on the daily chart overlapped the previous day’s negative candle, said Nagaraj Shetti, Technical Research … Read more
ITC, part of diversified FMCG space, rose 25 per cent in about 6 months compared to over 9 per cent fall seen in the Nifty50, and the momentum is likely to continue in the near-term, suggest experts. The S&P BSE Sensex stock hit a 52-week high of Rs 282 on 20 May 2022 but failed … Read more
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