Nifty, on Monday, formed a reasonable negative candle on the daily chart with an upper shadow. Technically, this market action indicates an attempt for a downside breakout of the range movement. This is not a good sign and signals more weakness ahead. The crucial support of the 200-day EMA has been violated again at the … Read more
On Friday, the Nifty closed slightly higher at 23,813 (+0.3%), as trading volumes remained muted due to the New Year holiday season in global markets. The broader markets showed mixed performance, with the Nifty Midcap 100 slipping 0.2%, while the Smallcap 100 edged up 0.2%. As of December 27th, FIIs have sold equities worth only … Read more
Indian benchmark indices ended on a positive note on Friday (Friday, December 27) aided by buying trends in auto, FMCG and bank stocks. While the S&P BSE Sensex settled at 78,699.07, up by 226.59 points or 0.29%, the broader Nifty closed at 23,813.40, higher by 63.20 points or 0.27%. Commenting on the day’s action, expert … Read more
The formation of a strong bearish candle on Nifty’s weekly chart certainly showcases a turnaround move, with bounces to be seen as opportunities to exit longs. As Nifty slipped below the pivotal zone of 200 SMA on Friday, the next potential support could be seen around the recent swing low of around 23,200-23,100, while a … Read more
Nifty found support near its recent low of 23,870 and formed a green candle on the daily chart on Thursday, indicating recovery. The 200-day Simple Moving Average (200-DSMA) is positioned near 23,825, making the 23,800-23,825 zone a strong, short-term demand area. On the upside, the recent breakdown point of 24,180 will act as an immediate … Read more
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