The Nifty formed a small positive candle with minor upper and lower shadows. Technically, this pattern indicates the formation of Doji-type candle, which is not a classical one. Normally, such a Doji pattern at the hurdle indicates caution for bulls. “The short-term trend of the Nifty seems to have reversed up and the Nifty is … Read more
Nifty ended Monday’s session with a gain of 43 points to form a small negative candle with a minor lower shadow on the daily chart. The short-term trend of Nifty is intact. Though Nifty is placed at the hurdles of around 25,350 levels (1.382% Fibonacci extension), still there is no indication of any significant reversal … Read more
Nifty ended 36 points higher to form a Doji-type candle pattern on the daily chart after hitting a fresh record high. It signalled resistance around 25,100 levels. The underlying trend of the index remains positive. Further consolidation or minor dip from here is likely to create space for a decisive upside breakout of the hurdle … Read more
Nifty ended Tuesday’s session on a flat note and formed a neutral Doji candle on the daily chart, reflecting an uncertain outlook in the near term. To trigger momentum, new highs need to be established soon, which could open the door for further gains. Key levels to watch include 24,975 and the bullish gap around … Read more
Nifty ended Thursday’s weekly expiry 41 points higher and formed a higher high-higher low formation for the fifth consecutive session. The daily charts saw the formation of a bearish candle as the index closed lower than its opening level. Now, Nifty has to continue to hold above the 24,700 zone to extend the move towards … Read more
Nifty ended Wednesday’s session 71 points stronger to form a reasonable positive candle on the daily chart. The headline index is still making a higher high both on the daily and weekly charts. The short-term trend of Nifty continues to be positive with range-bound action. The market is now set to challenge another opening down … Read more
Nifty ended Monday’s range-bound session 31.5 points higher to form a small red candle on the daily chart, which signalled hesitation after Friday’s upside breakout. The short-term trend of Nifty continues to be positive. Having placed at the key overhead resistance around 24,700, there is a possibility of some more consolidation or minor dip in … Read more
Nifty ended Friday’s session 397 points higher to form a long bull candle on the daily chart with lower shadow and crossed the 21-DEMA placed at 24,365 levels. Nifty has now moved towards hurdle area of previous huge opening downside gap of 5th Aug and the said down gap is expected to be filled soon … Read more
Nifty ended Wednesday’s session near the flatline to form a small red candle on the daily chart, and indicate a probable halt in downside momentum. The immediate support of the ascending trend line has been broken on the downside recently and the significant opening downside gap of 5th August remains unfilled. This is a negative … Read more
Nifty ended Friday’s session with a gain of 250.50 points but well below the 24,400-mark and formed a Hammer candle on the weekly chart. On the daily charts we can observe that the Nifty has witnessed a fall from 25,100 – 23,900 and is now in the process of retracing that fall. It can rally … Read more