Mazhar Mohammad

Tech View: Nifty forms bearish candle; has counter-trend rally ended?

by
Tech View: Nifty forms bearish candle; has counter-trend rally ended?

NEW DELHI: The Nifty50 opened with a bang, but smiles from bulls’ faces vanished as the day progressed. The index formed a strong bearish candle on daily charts. The Nifty, with a gap-up opening, attempted to cross the hurdle of 17,600 on the upside. However, it couldn’t sustain itself in the higher territory. The hourly … Read more

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

by
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