Tech View: Nifty forms Doji candle. What traders should do next week

Tech View: Nifty forms Doji candle. What traders should do next week

Nifty on Friday ended near the flatline after climbing the 23,000-mark for the first time in history. The index formed a Doji candle during the day after Thursday’s big bull candle. On the daily chart, Nifty continues to hold above the 20 and 50-day SMA, which is a positive signal. The 14-day RSI at 67.5 … Read more

Technical Breakout Stocks: How to trade Garden Reach Shipbuilders, Cochin Shipyard and RVNL on Friday

Technical Breakout Stocks: How to trade Garden Reach Shipbuilders, Cochin Shipyard and RVNL on Friday

The Indian market hit a fresh record high on Thursday amid short covering following RBI’s record dividend payout to the government that could lead to better fiscal position and softer bond yields. The S&P BSE Sensex rose nearly 1,200 points to hit a record high of 75,499 while the Nifty50 closed at 22,967. “There was … Read more

Tech View: Nifty may rally towards 23,500 in short term. What traders should do on Friday

Tech View: Nifty may rally towards 23,500 in short term. What traders should do on Friday

Nifty ended the Thursday weekly expiry stronger by 370 points at record high levels to form a long bull candle on the daily chart. On the higher end, above 23,000, the index might move towards 23,500 in the short term. On the lower end, support is placed at 22,800; the strength could remain intact as … Read more

Tech View: Nifty stuck between 22,400-22,600. What should traders do on Wednesday

Tech View: Nifty stuck between 22,400-22,600. What should traders do on Wednesday

Nifty on Tuesday ended 27 points higher to form a small positive candle on the daily chart while consolidating in a range between 22,400-22,600 levels. The index continues to hold above the 20 and 50-day SMA, which is a positive signal. The 14-day RSI at 56.38 is rising and not overbought, which is encouraging. The … Read more

Tech View: Nifty forms High Wave candle. What should traders do on Saturday

Tech View: Nifty forms High Wave candle. What should traders do on Saturday

Nifty on Friday ended 62 points higher to form a High Wave type of candle on the daily chart. The index recouped losses of its previous week and is now eyeing reclaiming the lifetime high zone. The short-term trend of Nifty is positive and the next upside levels to be watched are around 22,700-22,800 levels … Read more

Technical Breakout Stocks: How to trade Thermax, Siemens and Adani Power on Thursday

Technical Breakout Stocks: How to trade Thermax, Siemens and Adani Power on Thursday

The Indian market snapped a 3-day winning streak to close in the red on Wednesday, tracking muted global cues. The S&P BSE Sensex fell more than 100 points while the Nifty50 managed to hold on to 22,200 levels towards the close of the trade. Sectorally, buying was seen in the public sector, power, and capital … Read more

Tech View: Nifty forms high wave type candle. What traders should do on Thursday

Tech View: Nifty forms high wave type candle. What traders should do on Thursday

Nifty on Wednesday ended 17 points lower to form a high wave type candle on the daily chart. The index largely traded sideways and failed to generate any significant directional breakout. The short-term trend of Nifty continues to be up. Further consolidation or minor dip in the market is expected before showing further upmove. A … Read more

Tech View: Nifty near hurdle zone at 22,300. What traders should do on Wednesday

Tech View: Nifty near hurdle zone at 22,300. What traders should do on Wednesday

Nifty on Tuesday ended 114 points higher to form a bullish candle on the daily chart and is now approaching the hurdle zone around 22,300 after two days of rebound. “We need to witness a decisive close above 22,200-250 levels for further strength in the Nifty. Support for the Nifty is now seen at 21,950-22,000 … Read more

Tech View: Nifty forms hammer candle on daily chart. What traders should do on Tuesday

Tech View: Nifty forms hammer candle on daily chart. What traders should do on Tuesday

Nifty on Monday ended 49 points higher above the 22,100 mark to form a hammer candle on the daily chart as modest buying interest from the lows of 21,821 bolstered a technical pullback, allowing the index to close in the upper quartile of the trading range. On the higher side, the band of 22,300-22,320 could … Read more

Technical Breakout Stocks: Hind Zinc and Escorts hit fresh record highs. Here’s how to trade on Monday

Technical Breakout Stocks: Hind Zinc and Escorts hit fresh record highs. Here’s how to trade on Monday

The Indian market recouped losses to close in the black. The S&P BSE Sensex rose over 260 points, while the Nifty50 reclaimed 22,000. Sectorally, buying was seen in telecom, metal, oil & gas, power, and utilities, while selling was seen in banks, realty, and IT stocks. Stocks in focus include names like Hindustan Zinc, which … Read more