Technically, Nifty formed a green candle on the daily scale on Wednesday, indicating strength. Additionally, the Smallcap 100 index has rebounded from its previous support, forming a bullish engulfing pattern, while the Midcap 100 index has surpassed the previously formed hammer candles high, further reinforcing positive sentiment. In light of the broader market strength, a … Read more
The Nifty index opened flat, and witnessed selling pressure in the first half, but saw a sharp recovery in the second half, ultimately settling marginally lower at 22,945. The volatility index, India VIX, cooled off from 16.32 levels, declining 0.36% to 15.67. Technically, on a daily scale, Nifty has formed a Hammer candlestick pattern near … Read more
The Indian equity markets remained under pressure over the past five sessions,witnessing sustained weakness throughout the week. The Nifty50 faced resistance at key levels and struggled to find strong footing as it tested crucial support zones on two separate occasions.Market volatility surged significantly, with India VIX rising by 9.72%to 15.02, signaling heightened uncertainty. The index … Read more
The Nifty index opened on a negative note on Wednesday, faced heavy selling pressure in the first half, but later witnessed recovery and finally settled on a flat to negative note at 23,045. The volatility index, India VIX, cooled off from 15.62 levels but still settled slightly higher by 0.16% at 14.90. Technically speaking, Nifty … Read more
The Nifty remained mostly sideways during Wednesday’s session before closing slightly lower. On the lower end, the fall was limited to around 23,700, while the upside was capped at approximately 23,800. However, in the short term, the trend continues to favour the bulls as the index remains above the critical moving average, supporting a bullish … Read more
Nifty formed a Doji candle on the daily chart on Tuesday with a shadow equal on both sides after the gap up, indicating indecisiveness in the index. The index was sold off from its high by more than 0.5%. Also, at the day’s high, India VIX was stable, indicating a possible reversal from the current … Read more
A reasonable negative candle was formed on Nifty’s daily chart on Monday with a minor upper shadow. Technically, this pattern indicates an attempt at a downside breakout of immediate supports of around 23,000 levels, which may not be a good sign and indicates more weakness in the near term. The negative chart pattern like lower … 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