After opening on a negative note, the market continued to slide down for the better part of the session on Tuesday. Minor intraday upside recoveries have been used for sell- on-rise and Nifty finally closed at the lows. A long bear candle was formed on Nifty’s daily chart on Tuesday, which has almost erased the … Read more
A small negative candle was formed on the Nifty daily chart on Monday with minor upper and lower shadows. Technically, this market action indicates a breather-type pattern after a sharp rise. Therefore, the near-term uptrend of Nifty remains intact. However, the index has closed below its 100 DEMA on Monday. Nifty, as per long-term charts … Read more
Nifty formed a hefty engulfing bullish pattern on the daily chart on Friday, which has engulfed the smaller range movements of the last five sessions on the upside. This signals that bulls are back in the market with big-bang action. The swing low of Friday seems to have confirmed the formation of a new higher … Read more
Nifty started Thursday on a negative note and stayed under pressure throughout the day, settling negatively at 24,549 levels. The volatility index India VIX dropped by 0.58% to 13.19 levels, indicating a decrease in market volatility. Technically, on the daily chart, the index formed a small red candle. The index has retested the rounding bottom … Read more
Indian benchmark equity indices traded in a narrow range and managed to close in the green. Nifty broke its three-session losing streak and settled at 24,641.80, gaining by 31.75 points or 0.13%. Meanwhile, the 30-stock S&P BSE Sensex finished flat at 81,526.14, rising by just 16 points. Bank stocks dragged the index despite buying trends … Read more
Indian benchmark indices ended flat with Nifty declining for the third day in a row amid selling pressure in auto and pharma stocks while the S&P BSE Sensex just managed a green closing. Sensex settled at 81,510.05, up by 2 points while the broader Nifty50 closed at 24,610.05, lower by 9 or 0.04%. Commenting on … Read more
On the daily chart, the Nifty index formed a small-bodied bullish candle on Wednesday with upper and lower wicks, indicating market indecision. This pattern reflects a tug-of-war between buyers and sellers, though the bullish close suggests that buyers had a slight edge by the end of the session. The Nifty index traded sideways in a … Read more
Technically, the Nifty on Wednesday broke last week’s low, which was near 23,816 and sustained below 23,800, triggering a fresh breakdown. Due to heavy selling pressure, the index has tested its 200-day exponential moving average (DEMA) support, which is placed around 23,540. The index ended up forming a bearish candle. A strong break below 23,500, … Read more
A long negative candle was formed on the Nifty daily chart on Tuesday, placed near the recent swing low of 4th November around 23,816 levels. Technically, this pattern indicates a lack of strength in the market to sustain the upside bounce. The short-term trend of the Nifty continues to be weak. A slide below 23,800 … Read more
A small negative candle was formed on the daily chart of Nifty on Friday with a minor lower shadow. Technically, this pattern indicates a choppy movement in the market. Having declined sharply from near the hurdle of 24,500 levels, one may expect further consolidation in the short term. The short-term trend of Nifty continues to … Read more