The market ended the week on a pessimistic note, with a sell-on-rally sentiment dominating due to the strong US dollar, high valuations, and investors gravitating toward a multi-asset strategy. The auto sector outperformed other indices, buoyed by strong December sales that defied typically subdued demand. Meanwhile, mid and small caps showed a modest recovery, while … Read more
Even though 24,900 could be threatened at some time during the week, the odds of a swift downside appear low, says Anand James, Chief Market Strategist, Geojit Financial Services. “Our eyes are however on 24,900, the fibo retracement of the recent low-high, as long as above which, we could see a push towards 25390 or … Read more
The Nifty Bank fell over 1% on Thursday tracking weak global cues to close below its crucial psychological support of 48,000. The banking index fell 533 points to close at 47,487 while the Nifty50 saw a decline of 345 points to close below the 22000 mark. IDFC First Bank, PNB, HDFC Bank, and IndusInd Bank … Read more
After touching a fresh peak, Nifty ended last week marginally higher as earnings, Fed meeting and election-related speculations kept investors busy. While most sectors are contributing positively except for IT, banking performance is likely to heavily influence market sentiment, analysts say. “The rising VIX is indicative of potential volatility. Market can turn highly volatile in … Read more
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
Nifty, which has been looking for a directional headway on either side, ended the week 0.33% down with all major news trigger events like Budget, earnings, US Fed and RBI policy meetings behind us. Anand James, Chief Market Strategist, Geojit Financial Services, says this data vacuum presents an opportunity for time correction. “But our modest … Read more
Nifty on Tuesday ended 76 points lower to form a reasonable negative candle on the daily chart with a minor lower shadow, which technical analysts say indicates a reversal in the short-term. Positive chart pattern like higher tops and bottoms is intact on the daily chart and present consolidation/weakness is in line with the formation … Read more
The markets continued their unabated upmove. Following a strongly trending week, the Nifty not only ended at a fresh lifetime high, but it also closed with gains for the sixth consecutive week. The markets piled up decent returns despite some signs of consolidation in the second half of the week. The last two days were … Read more
In the past 4 out of 5 sessions, the market went through corrective declines. The trading range also widened on the expected lines as Nifty oscillated in a 537-point range over the past week. The headline index closed on a negative note, losing 518 points (-2.57%) on a weekly basis. The monthly derivatives expiry is … Read more
A sharp fall in the last hour dragged Nifty down, closing at 19,384, down 55 points. In the process, a long negative candle was formed on the daily charts, which indicates a lack of strength in the market to surpass the crucial overhead resistance of 19500. Positive chart patterns like higher tops and bottoms were … Read more