The Indian equities continued to trade with a corrective undertone as they ended the week on a mildly negative note. Over the past five sessions, the Nifty continued facing selling pressure at higher levels while staying mainly in a range. The markets remained in a very defined trading range and stayed decisively below key levels. … Read more
On the daily chart, the Nifty index formed a strong bearish engulfing candle, reflecting significant selling pressure from higher levels following a gap-up opening. This pattern indicates the potential for continued bearish momentum, particularly if key support levels are breached. The index failed to sustain higher levels and closed near the 23,000 mark, signaling caution. … Read more
The negative pattern like lower tops and bottoms is still intact in Nifty charts and further upside bounce with a lack of strength could probably confirm the lower top reversal at the highs. The short-term trend of Nifty is positive but the market is lacking the strength to witness sharp upside breakouts of the hurdle. … Read more