Data vacuum an opportunity for time correction in Nifty: Anand James

Data vacuum an opportunity for time correction in Nifty: Anand James

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

Tech View: Nifty candle hints at bearishness in near term. What traders should do on Wednesday

Tech View: Nifty candle hints at bearishness in near term. What traders should do on Wednesday

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

Dalal Street Week Ahead: Time to get cautious & defensive after Nifty’s swift runup

Dalal Street Week Ahead: Time to get cautious & defensive after Nifty’s swift runup

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

Dalal Street Week Ahead: Tread Carefully! Corrective action can take Nifty to 19,000 levels

Dalal Street Week Ahead: Tread Carefully! Corrective action can take Nifty to 19,000 levels

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

Tech View: Nifty bulls face stiff challenge at 19,500. What traders should do on Thursday expiry

Tech View: Nifty bulls face stiff challenge at 19,500. What traders should do on Thursday expiry

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

Nifty@record high: FII buying crosses $10 billion mark in FY24

Nifty@record high: FII buying crosses $10 billion mark in FY24

With the Indian economy shining like a bright spot in a troublesome global macro backdrop, foreign institutional investors (FII) investment on Dalal Street has crossed the $10 billion mark in FY24, propelling Nifty to a record peak above the 18,900 mark. After being net sellers in the last two financial years, FIIs have been singing … Read more

Sell Nifty@18,000, buy when it dips to 16,000: BofA Securities

Sell Nifty@18,000, buy when it dips to 16,000: BofA Securities

BofA Securities recommends investors to book profits in Indian equities as it sees risks of a recession in the US emanating from the banking crisis, debt ceiling risks and the ongoing liquidity tightening by the central bank. “We see no upside to our Nifty year-end target of 18,000; would look to book profits,” equity strategist … Read more

S&P Index | Nifty: If S&P breaks below 3,800, Nifty likely to fall below 16,800: Laurence Balanco

S&P Index | Nifty: If S&P breaks below 3,800, Nifty likely to fall below 16,800: Laurence Balanco

“S&P over the past four months has been trading in the 3800-4100 range. Should the S&P break below that 3800 area, that would increase the probability of a Nifty break below 16,800,” says Laurence Balanco, Technical Analyst, CLSAFor the S&P, a break below 3,800 really opens the door for a retest of the October lows … Read more

Tech View: Nifty delivers tall bearish candle. What should traders do on Tuesday

Tech View: Nifty delivers tall bearish candle. What should traders do on Tuesday

Besides forming lower highs and lower lows on the hourly charts, Nifty today formed a tall bearish candle on the daily charts as it revisited mid-October levels. Now, till it remains below 17250 zones, weakness could continue towards the next psychological support of 17000-16800 levels, while on the upside hurdles are seen at 17350 and … Read more

Nifty forms long-legged Doji candle on Budget day. What traders should do on Thursday expiry

Nifty forms long-legged Doji candle on Budget day. What traders should do on Thursday expiry

Following wild swings on the Budget day, headline index Nifty today formed a long-legged Doji candlestick on the daily chart, which is indicating an indecisive trend. Now, it needs to hold above 17,777 zones, for an up move towards 17,950 then 18,018 zones whereas supports are placed at 17,500 and 17,350 zones, said Chandan of … Read more