“What we are looking at is it moving higher towards around 56,577, so that is slightly what we call an extended Fibonacci level for this particular move. The support being closer to around 54,660. So that is pretty short term. It is not a lot of upside right now because we have seen a pretty … Read more
Mumbai: A renewed wave of optimism lifted domestic lenders to record levels as better-than-expected March quarter results at top banks buttressed their investment case, already in focus of late on account of the preference for sectors benefiting from local prospects amid lingering uncertainty over trade tariffs. Expectations of more interest rate cuts, with the Reserve … Read more
The previous week was short; the Indian markets traded for four days owing to one trading holiday on account of Ramadam Id. However, while staying largely bearish, the markets weathered the storm inflicted by the US announcing reciprocal tariffs on almost everyone and kicking off a serious trade war. The equity markets across the world … Read more
“Our view is to buy on dips, Nifty is looking good for 24,000 from a positional perspective. At 23,200, 23,300 the risk-reward is favourable for longs so keep a stop loss place around 22,000 on the closing basis and the view is to go long,” says Rahul Sharma, JM Financial Services.Look at the recovery that … Read more
“So, net-net, overall, things are getting better incrementally for the market and we are seeing that once this pullback is done, we should see another round of rally coming up in the market,” says Rahul Sharma, JM Financial Services.Give us a sense of the kind of levels that you are spotting for the Nifty as … Read more
The domestic benchmark index Nifty opened on a marginally negative note on Friday, witnessed buying interest in the first half but the later half witnessed heavy profit booking and settled the day on a negative note at 23,092. Technically, the Nifty on a daily scale has formed a red candle indicating weakness on Friday. However, … Read more
On the daily chart, the Nifty index on Thursday displayed follow-up buying after the previous session’s bounce from lower levels but struggled to sustain higher levels. This pattern suggests that selling pressure persists at elevated levels, reflecting a lack of conviction among buyers. A breakdown below the immediate and crucial support at 23,000 could intensify … Read more
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