Nifty on Wednesday ended 183 points lower near the 22,700 level as the index formed a dark cloud cover candlestick pattern on the daily chart. Support for Nifty is now seen at 22,675-700 and 22,500 levels. On the higher side, the immediate resistance zone is at 22,825-850 levels and the next psychological resistance is at … Read more
The Nifty Bank fell over 1% on Thursday tracking weak global cues to close below its crucial psychological support of 48,000. The banking index fell 533 points to close at 47,487 while the Nifty50 saw a decline of 345 points to close below the 22000 mark. IDFC First Bank, PNB, HDFC Bank, and IndusInd Bank … Read more
Nifty on Tuesday ended about 39 points lower to form a Shooting Star pattern on the daily chart to indicate a strong possibility of further weakness from current levels. The short-term moving averages are just below the price action and should continue to support the indices on any decline. Support for Nifty is now seen … Read more
The Nifty 50 ended on a flat note after a volatile session on Wednesday as mixed cues from global markets triggered profit booking. Rollover of positions to the May derivative series ahead of the expiry of the April series added to the volatility. While Nifty 50 ended flat at 22,434.65 points, it has formed a … Read more
Nifty on Wednesday ended 22 points lower to form a Doji candle on the daily charts which indicates chances of a minor pullback rally. Minor degree positive chart patterns like higher tops and bottoms have been negated recently as per the daily chart. Hence, any upside bounce from here is expected to be a lower … Read more
Nifty on Tuesday ended flat to form an indecisive Doji candle on the daily charts. The immediate resistance for Nifty is at 22,500, and a break above this on a closing basis would signal a resumption of the upward movement. Conversely, the immediate support is positioned at 22,200-22,150, and sustaining above this level could witness … Read more
Nifty on Tuesday made a fresh peak and ended 75 points higher near the 22,200 mark to form a long bull candle on the daily charts. The index has been making a higher high both on daily and weekly charts. The short-term trend of the Nifty remains up. A decisive move above 22,200 is likely … Read more
It’s worth pondering why stock prices fluctuate daily despite companies announcing their financial results quarterly. Alongside corporate announcements, macroeconomic factors and indicators significantly influence stock markets. Let’s delve into their role. Which major indicators affect the stock market?Monetary Policy Monetary policy, managed by a country’s Central Bank, balances economic growth and inflation by adjusting interest … Read more
Nifty on Wednesday ended flat with a gain of just one point and formed a small negative candle with a lower shadow on the daily chart ahead of the RBI policy outcome tomorrow. The short-term trend of Nifty continues to be positive. There is a higher possibility of an upside breakout of 21,950-22,000 mark in … Read more
Nifty on Tuesday ended 385 points higher to form a long bull candle on the daily chart, indicating chances of an upside breakout of the hurdle at 21750 in the short term. The negative chart pattern like lower tops and bottoms is on the verge of negation as Nifty moved above the previous lower top … Read more