Nifty on the weekly chart formed a small bullish candle with minor upper and lower shadows on Friday. Technically, this weekly market action signals the formation of a Doji candle pattern. Normally a Doji pattern after a reasonable weakness could be an impending reversal signal post-confirmation. The short-term trend of the Nifty remains weak amidst … Read more
A small red candle was formed on the daily chart of Nifty on Wednesday, with minor upper and lower shadows. This market action usually signals a choppy movement in the market with a positive bias. The negative chart pattern like lower tops and bottoms is intact and the present pullback could be in line with … Read more
Nifty formed a small positive candle on the daily chart on Tuesday with a gap-up opening and a long upper shadow. Technically, this indicates an upside bounce in the market with a lack of strength to sustain the highs. The negative chart pattern like lower tops and bottoms is intact on the daily chart and … Read more
“23,000 is a support level that we are looking at and on the upside 23,500 is the resistance that we are looking at. Although if it fails to hold 23,000, we could see a more downside move towards 22,650 levels. Now, this is the range and the band coming out for Nifty,” says Shivangi Sarda, … Read more
The Nifty formed a red candle on the daily chart on Thursday, but respected the demand zone of 23,460–23,500, settling near the 200-day simple moving average (250-DSMA) support. If the index holds 23,460, a short-term pullback towards 23,800-23,900 is possible. On the higher side, the index will find resistance near the 23,930 mark, where its … Read more
The Nifty formed an Inside Bar candle on the daily chart on Tuesday, closing near the 23,700 mark. However, market sentiment remains cautious. A breach below the 23,600 level could lead to further corrections towards 23,400 and 23,000, identified as immediate support levels. On the upside, resistance is pegged at 23,800 and 24,000. Technical indicators … Read more
Mumbai: India’s key benchmark indices fell about 1.6% on Monday as the detection of Human Metapneumovirus, or HMPV, cases in India kindled pandemic memories and concerns over interest rate hikes by the Bank of Japan further spooked investors, already on edge due to the falling rupee and overseas investors selling. The Nifty fell 388.7 points, … Read more
As the Nifty 50 index closed below the crucial 200-DEMA on Monday, technical indicators present a mixed outlook for the market. The Relative Strength Index (RSI) currently stands at 40.7 — trending downward and indicating bearish momentum. In contrast, the Stochastic RSI showed a bullish crossover, hinting at a potential short-term recovery. This divergence in … Read more
Brokerage CLSA said Nifty‘s absolute returns would be muted in 2025 as share valuations remain well above their long-term averages and their peers amid an uncertain and risky global environment. The firm said incoming US President Donald Trump’s policies on export-focused emerging markets like India and China, uncertainty around interest rate cuts, and a rising … Read more
Benchmark stock market indices closed higher after witnessing a brief rally on the first day of trading in 2025 fuelled by a rally in auto sector stocks. The S&P BSE Sensex added 368.40 points to end at 78,507.41, while the NSE Nifty50 gained 98.10 points to close at 23,742.90. Vinod Nair, Head of Research, Geojit … Read more