Nifty on Wednesday ended 17 points lower to form a high wave type candle on the daily chart. The index largely traded sideways and failed to generate any significant directional breakout. The short-term trend of Nifty continues to be up. Further consolidation or minor dip in the market is expected before showing further upmove. A … Read more
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
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
The Nifty 50’s dream to hit the 20000-mark milestone was shattered as bears took charge of its heartbeat – banks. The Nifty Bank clocked 3% gains in the July derivative series, but the selling in the recent sessions and the positioning in the derivatives segment indicates some pain in the near term. On Friday, Nifty … Read more
Mumbai: Gujarat-based listed public sector undertakings (PSUs) were among the top performers on the bourses on Wednesday after the state government announced a policy defining a minimum threshold of dividend distribution and allotting bonus shares for all the companies it owns. Shares of Gujarat State Fertilizers & Chemicals surged 20% and closed at a seven-month … Read more
Headline index Nifty on Thursday formed a reasonable positive candle with a long lower shadow on the daily charts. Technically, this pattern indicates an uptrend continuation with rangebound action, analysts said. Nifty is now gradually advancing towards the crucial overhead resistance of 17,863 levels, which is not only the swing high of April 17 but … Read more
Headline index Nifty on Tuesday formed a small Doji candlestick formation, indicating indecisiveness between bulls and bears. Now, it needs to hold above 17717 zones to witness an up move towards 17850 and 17950 zones, while on the downside supports are placed at 17620 and 17550 marks, said Chandan Taparia of Motilal Oswal. India VIX … Read more
Indicating support-based buying, Nifty today formed a small positive candle with a long lower shadow on the daily charts. Now it needs to hold above 17717 zones to witness an up move towards 17777 and 17850 zones, while on the downside, supports are placed at 17620 and 17550 marks, said Chandan Taparia of Motilal Oswal. … Read more
“The expiry week is likely to be volatile and the Monday trend will give a clear confirmation of where the market is likely to move. The range is 17500-17800 and a break on either side will have a decisive move,” says Kunal Shah, Senior Technical & Derivative analyst at LKP Securities. In an interview with … Read more