ET CONTRIBUTORS The previous week remains a technically damaging one as the Nifty violated a few important supports while closing on a negative note. The volatility too increased. This was though on the expected lines. The past five days also saw the global markets dealing with the collapse of SVB. The negative sentiment was seen … Read more
In the previous technical note, it was categorically mentioned that it would be crucial to see if Nifty can keep its head above 18600 levels to extend and confirm the breakout that it has attempted. This being said, despite a strong relative outperformance from the Nifty Bank Index, the Nifty has delayed its breakout as … Read more
After spending nearly 10 weeks below the falling trend line pattern resistance and taking support at important levels, the Nifty has finally attempted to break above this significant resistance pattern. In the short trading week interrupted by a holiday, the market continued inching higher while keeping their head above the crucial supports. The volumes through … Read more
In the previous weekly technical note, it was categorically mentioned that the markets have created a defined trading zone for themselves. This trading zone had the 50-Week MA as its lower support area; the upper resistance existed near the 17600-17700 area. After a flat ending in the week before this one, the past five sessions … Read more
In the previous technical commentary and forecast, it was anticipated that this week may see some ranged consolidation. It was also expected that such consolidation may have ranged moves and some profit-taking bouts from the higher levels. However, the downsides were expected to stay limited. While dancing exactly to these tunes, the markets spent the … Read more
The markets had a strong week much on the expected lines. In the previous weekly note, it was categorically mentioned that the markets may resume their up move after a brief period of consolidation. Over the past five sessions, the markets continued to inch higher as they got stronger in the process. And with the … Read more
After taking a breather in the week before this one, the equity markets resumed their up move. The headline index continued with its pullback and moved past a few important levels while protecting the key supports. Over the past five sessions, the market remained largely in the upward rising trajectory barring a consolidation for a … Read more