Nifty forms bullish candle. What traders should do next week

Nifty forms bullish candle. What traders should do next week

Nifty today formed a bullish candle with a longer lower shadow on the daily and weekly scale, which indicates buying interest on declines. Now, it needs to hold above 17,850 zones, for an up move towards 17,950 then 18,081 zones whereas supports are placed at 17,777 and 17,650 zones, said Chandan of . Fear gauge … Read more

Sensex puts a muted show, but 10 constituents give index-beating weekly returns

Sensex puts a muted show, but 10 constituents give index-beating weekly returns

The week gone by saw benchmark Sensex seeing rangebound movement amid weak global sentiment and stock-specific movement. But 10 constituents of the index managed to give strong weekly returns. The Sensex settled 0.4% down at 60621.77 points on Friday, and for the week has given 0.6% positive returns. Among the 10 stocks were twins – … Read more

Traders can deploy “long strangle” strategy on Nifty ahead of Budget 2023: Rupak De

Traders can deploy “long strangle” strategy on Nifty ahead of Budget 2023: Rupak De

“I would like to suggest a “long strangle” strategy for the budget, though it will be risky given the high premiums of the options. Besides, after a few days of consolidation, Nifty looks good for a directional move,” says Rupak De, Senior Technical Analyst at . In an interview with ETMarkets, Rupak said: “Nifty could … Read more

Tech View: Doji candle on Nifty weekly charts shows tug-of-war. What traders should do next week

Tech View: Doji candle on Nifty weekly charts shows tug-of-war. What traders should do next week

As Nifty failed to end above the 18,000-mark for four days in a row, the headline index formed a Doji candle on the weekly charts. A tug-of-war was visible between bulls and bears throughout the week as wicks of the candle were of equal size on both ends indicating indecision among traders. The index now … Read more

Tech View: Nifty forms small red candle. What traders should do on Thursday

Tech View: Nifty forms small red candle. What traders should do on Thursday

Nifty formed a small negative candle with minor upper and lower shadow on the daily chart today. As the pattern comes after yesterday’s weakness, analysts said it signals a minor halt in the underlying trend of the market. Nifty has repeatedly been testing the support of 17,800 levels by forming lower highs. The market action … Read more

Tech View: Nifty forms Inside Bar candle on weekly charts. What traders should do next week

Tech View: Nifty forms Inside Bar candle on weekly charts. What traders should do next week

After making lower highs for the last three sessions, Nifty formed a bearish candle and an Inside Bar on the weekly charts. Now, till it holds below 17,950, weakness could be seen towards 17,777 and 17,650 zones whereas hurdles are placed at 17,950 and 18,081 zones, said Chandan of . Indicators such as RSI and … Read more

Tech View: Nifty charts show bears in control. What traders should do on Friday

Tech View: Nifty charts show bears in control. What traders should do on Friday

NEW DELHI: As Nifty ended below the psychological 18000-mark, the headline equity index on Thursday formed a bearish candle on the daily charts with a long lower shadow, indicating that downside continuation pattern but buying at lower levels. Now, it has to cross and hold above 18018 zones for an up move towards 18123 and … Read more

Tech View: Nifty charts throw up green candle. What traders should do on Wednesday

Tech View: Nifty charts throw up green candle. What traders should do on Wednesday

After making higher lows for the last three trading sessions, Nifty on Tuesday formed a bullish candle on the daily charts. Now, it has to continue to hold above 18181 zones, for an up move towards 18350 and then, 18442 levels whereas supports are placed at 18150 and 18081 levels, said Chandan of . India … Read more

Tech View: Nifty forms a positive candle on expiry day. What traders should do on last trading day of 2022

Tech View: Nifty forms a positive candle on expiry day. What traders should do on last trading day of 2022

Headline equity index Nifty on Thursday formed a bullish candle on the last monthly and weekly derivative expiry of the calendar year 2022. It formed a higher bottom formation on intraday charts, indicating a further uptrend from current level The momentum indicator RSI (14) is in a bullish crossover. Chart readers said Nifty is placed … Read more

Tech View: Nifty forms small green candle. What traders should do on Thursday

Tech View: Nifty forms small green candle. What traders should do on Thursday

Indicating a breather movement after the sharp upside bounce seen in the last two days, Nifty on Wednesday formed a small positive candle with an upper shadow on the daily charts. The market is currently placed at the hurdle of 18150-18200 levels (resistance of ascending trend line), which has not been surpassed decisively on the … Read more