Tech View: Nifty ends below 50-DEMA. What traders should do on Friday

Tech View: Nifty ends below 50-DEMA. What traders should do on Friday

Nifty on Thursday ended 152 points lower to fall below the 22,000-level and form a Bearish Engulfing candle below its 50-DEMA on the daily chart. The previous closure around 21,800 is likely to be seen as the pitstop for bears, and if bulls could not barge on there, we may test the 100 DEMA placed … Read more

Tech View: Nifty forms high wave candle. What traders should do on Friday

Tech View: Nifty forms high wave candle. What traders should do on Friday

Nifty on Wednesday formed a high wave type candle on the daily chart as it ended the session 111 points higher. Nifty is currently placed at the hurdle of around 22,800 levels (ascending resistance trend line and 1.618% Fibonacci extension). Though Nifty placed near the hurdle, still there is no sign of any reversal forming … Read more

Tech View: Nifty may consolidate within a range. What traders should do on Tuesday

Tech View: Nifty may consolidate within a range. What traders should do on Tuesday

Nifty on Monday ended 153 points higher to form a green candle on the daily chart while registering a new all-time high. Positive chart patterns like higher tops and bottoms are intact as per the daily chart, and the present upmove is in line with the new higher top formation of the pattern. The short-term … Read more

Tech View: Nifty chart shows bearish reversal; what traders should do on Friday

Tech View: Nifty chart shows bearish reversal; what traders should do on Friday

MUMBAI – The Nifty 50 ended marginally higher on Thursday, but the session witnessed volatility amid bouts of profit booking. The 50-stock index ended 0.4% higher at 22515 points. On the daily chart, the index has formed a hanging man pattern, indicating a potential bearish reversal in the short term, said Rupak De, senior technical … Read more

Tech View: Nifty forms two successive Doji candles. What traders should do on Wednesday

Tech View: Nifty forms two successive Doji candles. What traders should do on Wednesday

Nifty on Tuesday ended 9 points lower to form back-to-back Doji patterns on the daily chart, typically indicating a pause before the next move. The short-term trend of the Nifty remains positive. Though Nifty is placed at the crucial overhead resistance around 22,500 levels, there is no confirmation of any reversal pattern unfolding at the … Read more

Tech View: Nifty forms Doji candle. What should traders do on Tuesday

Tech View: Nifty forms Doji candle. What should traders do on Tuesday

Nifty on Monday ended 135 points higher to form a Doji candle on the daily chart with the index trying to break above the crucial overhead resistance of 22,500-22,550 levels. Though Nifty is now placed at the crucial hurdle of around 22,500 levels, the overall chart pattern remains positive and we are unlikely to see … Read more

Percentage of small, midcap stocks trading below 20-DMA down to 57% from 83%: Anand James

Percentage of small, midcap stocks trading below 20-DMA down to 57% from 83%: Anand James

The percentage of small and mid-cap stocks trading below 20-DMA has come down to 57% from 83% last week, indicating attempts to pull back, says Anand James, Chief Market Strategist, Geojit Financial Services. However, the percentage of stocks closing below the 30-day low increased to 9% from 2% last week which is indicating that the … Read more

Tech View: Nifty forms long wick candle. What should traders do on Monday

Tech View: Nifty forms long wick candle. What should traders do on Monday

Nifty on Thursday ended 203 points higher to form a reasonable bull candle with a long upper shadow on the daily chart, reflecting selling pressure near all-time highs around 22,500 levels. The near-term uptrend of the Nifty remains intact with high volatility. The next upside levels to be watched are around 22,500-22,600 in the next … Read more

Tech View: Nifty crosses 20-DEMA hurdle. What traders should do on Thursday

Tech View: Nifty crosses 20-DEMA hurdle. What traders should do on Thursday

Nifty on Wednesday ended 119 points higher to form a green candle on the daily chart. The index surpassed the hurdle of short-term moving average i.e. 20-DEMA but needs sustainability above 22,200 to extend the rebound. Daily and hourly momentum indicators are providing divergent signals, which can lead to a consolidation and hence in case … Read more

Tech View: Nifty forms small green candle on weekly charts. What traders should do next

Tech View: Nifty forms small green candle on weekly charts. What traders should do next

Nifty on Friday ended 85 points higher to form a green candle with a minor upper shadow on the daily charts. On the weekly scale, a small positive candle with a long lower shadow was seen. The short-term trend of the Nifty remains positive. A sharp move above the hurdle of 22,200-22,300 levels could pull … Read more