As Nifty ended flat on Monday, a small negative candle was formed on the daily chart with minor upper shadow. Technically, this market action indicates range-bound movement in the market at the highs. This also signals lack of strength in the market to sustain the upside bounce, said Nagaraj Shetti of HDFC Securities. On the … Read more
NEW DELHI: Nifty on Thursday ended 89 points lower near the 19,550 mark to form a small negative candle with minor upper and lower shadows on the daily chart. Technically, this pattern indicates sideways movement in the market with weak bias at the crucial resistance of 19,650 levels. The repeated testing of the hurdle without … Read more
A sharp fall in the last hour dragged Nifty down, closing at 19,384, down 55 points. In the process, a long negative candle was formed on the daily charts, which indicates a lack of strength in the market to surpass the crucial overhead resistance of 19500. Positive chart patterns like higher tops and bottoms were … Read more
After the underperformance during the January-March quarter, benchmark Nifty50 delivered gains over April and May. The index is now set to surpass the lifetime high of 18,887.60 it scaled in December last year. While Nifty50 will take an upward trajectory, midcap stocks are likely to see stronger momentum. “We expect broader markets to accelerate upward … Read more
Shares of foodtech firm Zomato would be in focus on Monday following narrowing of its loss in March quarter. Sumeet Bagadia, Executive Director, Choice Broking, says the stock has shown support around Rs 58-55 while resistance is around Rs 75-80. “Short-term prospects in this stock might be appealing to risk-taking investors,” Bagadia says. Edited excerpts:Nifty … Read more
In the 2023 stock market, when one group of companies falls out of favor, another has usually been ready to take its place. The latest winner is firms with the riskiest credit, poised for their best week since January versus their sturdier-balance-sheet counterparts. The outperformance is happening as credit-market stress eases, helping push the S&P … Read more
Nifty today broke its downward trending channel on the daily chart and formed another bear candle with minor upper and lower shadow. Now, till it remains below 17,250 zones, weakness could continue towards next support of 17,000 then 16,800 levels while on the upside hurdles are seen at 17,250 and 17,350 levels, said Chandan Taparia … Read more
Rising above both the short-term and near-term moving averages, the headline equity index Nifty on Wednesday formed a green candle after two days of consolidation. Now, it needs to hold above 17850 zones for an up move towards 17950, then 18081 zones, whereas supports are placed at 17777 and 17650 zones, said Chandan of . … Read more
Due to lower provisions amid material improvement in asset quality and lower-than-expected credit costs, private sector lender managed to beat Dalal Street estimates in its Q2 earnings. Most brokerages are bullish on the stock with target prices going up to Rs 1,500. Among global brokerages, BofA Securities and CLSA both have given target prices of … Read more
New Delhi: Despite a rampant selloff in the broader markets, Harsha Engineers International (HEIL) made a strong debut on bourses on Monday. Harsha Engineers was listed a premium of 36 per cent at Rs 450 on National Stock Exchange (NSE) against an issue price of Rs 330, whereas the scrip debut at Rs 444 on … Read more