Tech View: Nifty ends below 50-DEMA. What traders should do on Friday

Tech View: Nifty ends below 50-DEMA. What traders should do on Friday

Nifty on Thursday ended 152 points lower to fall below the 22,000-level and form a Bearish Engulfing candle below its 50-DEMA on the daily chart. The previous closure around 21,800 is likely to be seen as the pitstop for bears, and if bulls could not barge on there, we may test the 100 DEMA placed … Read more

Tech View: Nifty chart shows bearish reversal; what traders should do on Friday

Tech View: Nifty chart shows bearish reversal; what traders should do on Friday

MUMBAI – The Nifty 50 ended marginally higher on Thursday, but the session witnessed volatility amid bouts of profit booking. The 50-stock index ended 0.4% higher at 22515 points. On the daily chart, the index has formed a hanging man pattern, indicating a potential bearish reversal in the short term, said Rupak De, senior technical … Read more

Tech View: Nifty forms two successive Doji candles. What traders should do on Wednesday

Tech View: Nifty forms two successive Doji candles. What traders should do on Wednesday

Nifty on Tuesday ended 9 points lower to form back-to-back Doji patterns on the daily chart, typically indicating a pause before the next move. The short-term trend of the Nifty remains positive. Though Nifty is placed at the crucial overhead resistance around 22,500 levels, there is no confirmation of any reversal pattern unfolding at the … Read more

Technical Stock Pick: Jyothy Labs showing signs of reversal after 20% fall from highs

Technical Stock Pick: Jyothy Labs showing signs of reversal after 20% fall from highs

Jyothy Labs, part of the household products industry, has fallen by about 20% from the highs and has found support above the 200-DMA on the daily charts. The stock is trading above crucial support levels; hence, a technical bounceback could be on the cards. Short-term traders can look to buy the stock now for a … Read more

Tech View: Nifty crosses 20-DEMA hurdle. What traders should do on Thursday

Tech View: Nifty crosses 20-DEMA hurdle. What traders should do on Thursday

Nifty on Wednesday ended 119 points higher to form a green candle on the daily chart. The index surpassed the hurdle of short-term moving average i.e. 20-DEMA but needs sustainability above 22,200 to extend the rebound. Daily and hourly momentum indicators are providing divergent signals, which can lead to a consolidation and hence in case … Read more

Tech View: Nifty faces key hurdle at 20-EMA. What traders should do on Friday

Tech View: Nifty faces key hurdle at 20-EMA. What traders should do on Friday

Nifty on Thursday ended 173 points higher to test the immediate hurdle of short-term moving average i.e. 20-EMA, but it couldn’t surpass it amid weekly expiry. On the daily charts we can observe that the index is in the process of retracing the fall it has witnessed from 22,526 – 21,710. The key retracement levels … Read more

Tech View: Nifty gives up key support level. What traders should do on Wednesday

Tech View: Nifty gives up key support level. What traders should do on Wednesday

Nifty on Tuesday ended 238 points lower to sneak below its 50-DEMA for the first time in the last four months and form a long bear candle on the daily chart. The overall chart pattern of Nifty is weak and one may expect further decline in the near term. The next lower levels to be … Read more

Tech View: Nifty forms small positive candle. What traders should do on Tuesday

Tech View: Nifty forms small positive candle. What traders should do on Tuesday

Nifty on Monday ended 32 points higher to form a small positive candle on the daily chart with minor upper and lower shadow. During the day, the index managed to hold on to the support zone of 21,900 – 21,850 where support parameters in the form of the 40-day average and the previous swing low … Read more

Tech View: Nifty momentum indicators blink red. What traders should do next week

Tech View: Nifty momentum indicators blink red. What traders should do next week

Nifty on Friday ended 123 points lower to form a small negative candle on the daily charts and a bearish engulfing pattern on the weekly charts. The short-term and the near-term trends of Nifty remain weak. A decisive move below 21,900 could open sharp weakness down to the next lower support of 21,500 levels in … Read more

Tech View: Nifty ends above 21-EMA ahead of weekly expiry. What traders should do on Thursday

Tech View: Nifty ends above 21-EMA ahead of weekly expiry. What traders should do on Thursday

Nifty on Wednesday ended 118 points higher to form a long bull candle with a long lower shadow on the daily charts. The headline index ended at a record closing high, which was above the 21EMA on the daily scale. One may expect further upside in the coming sessions and the next upside levels to … Read more