Tech View: Nifty forms higher high, higher low series. What traders should do next week

Tech View: Nifty forms higher high, higher low series. What traders should do next week

Nifty on Friday ended flat but above the 22,200 level to form a higher high and higher low series formation on both the daily and weekly charts. Nifty has been in a consolidation zone for over a month and we may soon see a breakout or breakdown with the former. However, for any significant rally, … Read more

Tech View: How to read Nifty price, momentum indicators for Friday’s trade

Tech View: How to read Nifty price, momentum indicators for Friday’s trade

Nifty on Thursday ended 162 points higher to form a long bull candle with a long lower shadow on the daily charts as the short-term trend of Nifty turned up sharply after a small decline. Having breached the recent highs of 22,249, the Nifty is expected to move towards the next upside target of 22,500-22,600 … Read more

Tech View: Nifty forms bearish engulfing pattern ahead of expiry. What traders should do on Thursday

Tech View: Nifty forms bearish engulfing pattern ahead of expiry. What traders should do on Thursday

Nifty on Wednesday ended 142 points weaker to form a Bearish Engulfing pattern on the daily chart, indicating a potential pause in the ongoing rally. The bullish chart pattern like higher tops and bottoms continued as the per daily timeframe chart and Wednesday’s swing high of 22,249 could now be considered as a new higher … Read more

Tech View: Nifty ready to test all-time peak levels. What traders should do next week

Tech View: Nifty ready to test all-time peak levels. What traders should do next week

Nifty on Friday ended 139 points higher above the 22,000 mark to form a Spinning Top candle on the daily chart and indicate indecisiveness. The index looks set to test record-high levels next week. The short-term moving averages are below the price action and should continue to support the indices on every decline. With 22,000 … Read more

Tech View: Nifty ends above 20-DMA for 3rd day. What traders should do on Friday

Tech View: Nifty ends above 20-DMA for 3rd day. What traders should do on Friday

Nifty on Thursday ended 71 points higher above the 21,900-level to form a Doji-type candlestick on the daily chart. Both price and momentum indicators suggest a continuation of the up move. Nifty is currently placed at the edge of moving above the minor down- trend line resistance around 21,900-21,950 levels. A decisive break above this … Read more

Tech View: Nifty forms bullish engulfing candle. What traders should do on Thursday

Tech View: Nifty forms bullish engulfing candle. What traders should do on Thursday

Nifty on Thursday ended 97 points higher to form a bullish engulfing candlestick pattern, which indicates a short-term bottom reversal for the index. The index is currently placed at the edge of breaking above the immediate hurdle of 21,850 level and a decisive move above this resistance is likely to pull Nifty towards 22,000-22,100 levels … Read more

Tech View: Nifty trend remains choppy in short term. What traders should do on Wednesday

Tech View: Nifty trend remains choppy in short term. What traders should do on Wednesday

Nifty on Tuesday ended 127 points higher to form a long bull candle with a lower shadow on the daily chart as the index bounced back from near the support at 21,600 level. The short-term trend of Nifty remains choppy with alternative candle formations like bull and bear. A sustainable move above the immediate resistance … Read more

Tech View: Nifty may remain on sell-on-rise mode. What traders should do on Tuesday

Tech View: Nifty may remain on sell-on-rise mode. What traders should do on Tuesday

Nifty on Monday ended 166 points lower to close below the 20-DMA and form a lower top on the daily chart which signalled a diminishing bullish sentiment. A long bear candle was seen on the charts The momentum indicator aligns with this bearish outlook, displaying a crossover. Nifty might remain in sell-on-rise mode as long … Read more

Tech View: Nifty forms hammer candle on charts. What traders should do on Wednesday

Tech View: Nifty forms hammer candle on charts. What traders should do on Wednesday

Suggesting a bullish momentum in the index that could take it to fresh peaks, Nifty on Tuesday ended 158 points higher and formed a hammer candlestick pattern on the daily charts. Minor positive patterns like higher tops and bottoms are intact and the market is now on the way up toward the new higher top … Read more

Tech View: Nifty charts hint at sideways movement ahead. What traders should do on Tuesday

Tech View: Nifty charts hint at sideways movement ahead. What traders should do on Tuesday

Nifty on Monday formed a bearish engulfing candle as it ended 82 points lower after witnessing follow-through selling pressure from the upper boundary at 22,000. Present weakness is unlikely to damage the near-term uptrend status of the market and one may expect chances of an upside bounce from the lower levels. Immediate support is to … Read more