A reasonable negative candle was formed on the Nifty daily chart, with a gap down opening and with a long upper shadow. Technically, this pattern indicates a decisive downside breakout of a symmetrical triangle pattern with lack of strength to bounce back. The immediate support of 23,260 has been violated on the downside and the … Read more
A long bear candle was formed on the Nifty 50’s daily chart, as the index breached its 20 DEMA in today’s session, which indicates a downside breakout of the range movement of the last few sessions. The huge opening upside gap of 25th November has been filled and the Nifty closed around the gap support … Read more
The Nifty opened a gap and remained above the 24,100 level throughout the entire trading session. However, marginal profit booking was witnessed during the second half of the trading session. The markets witnessed a smart rally where the bulls were in control of the markets, taking the prices higher. The candlestick pattern formed on the … Read more
Nifty ended Tuesday’s session 218 points higher to form a Piercing Line candle on the daily chart around its 150-day exponential moving average (DEMA) support to indicate strength. The underlying short-term trend of Nifty is on the verge of reversal. A decisive move above 24,500 levels could open fresh upmove in the market. Any weakness … Read more
The Nifty remained volatile during the day before closing with a meaningful gain after several days. On the downside, it sustained above the previous day’s low, indicating strength in buying. Nifty formed a high wave type candle on October 28 after a fall hinting at the start of an upward correction. Nifty could now rise … Read more
Nifty exhibited a robust recovery on the last trading day of the week, forming a Bullish Piercing candlestick pattern on the daily charts. This suggests a potential pause in the recent downtrend. However, a follow-through of buying is needed to confirm this reversal pattern. The index remains below its 10-day EMA, indicating that buyers are … Read more
The Nifty formed an inside day pattern on its daily chart, which is formed when the price trades within the high and low range of the previous day. Hence one needs to wait and watch, till the high (25,134) or low (24,979) of today’s daily candle is taken out for further direction on Nifty. At … Read more
A long bear candle was formed on Nifty’s daily chart, which indicates a continuation of steep downside momentum. The positive chart pattern like higher tops and bottoms on the daily chart seems to have been negated by Nifty moving below the last higher bottom of 24,753 levels in today’s session. The underlying trend of Nifty … Read more
The Nifty formed a bull candle on the daily chart as the market continued its upside journey on Monday and closed the day higher by 148 points. After opening with an upside gap of 80 points, the market continued to surge up amidst range movement for the better part of the session. New all-time high … Read more
Nifty ended Thursday’s monthly expiry session with a gain of about 100 points after scaling a fresh record high. The intraday bounce from the 25,000 level suggests strong support at this level. With today’s strong close, prices have now surpassed the previous swing high, confirming a “Saucer” formation and signaling the potential for further upside. … Read more