A small negative candle was formed on the daily chart at the new swing lows of 24,341 with minor upper and lower shadows. Technically, this pattern indicates the formation of a Doji-type candle pattern (not a classical one). Normally, the formation of Doji after a reasonable upmove or downmove is considered an impending reversal pattern … Read more
Nifty formed a small negative candle on the daily chart with minor upper and lower shadow to indicate continuation of narrow range movement in the market. The weekly scale saw the formation of a high wave type candle pattern. The underlying trend of Nifty remains choppy. Having placed near the crucial supports around 24500 levels, … Read more
A long bull candle was formed on the daily chart, which indicates that the market is on the verge of showing an upside bounce. It was observed that Nifty is in the process of forming a double bottom type pattern around 24,700 levels, which needs to be confirmed with more upside. The index closed below … Read more
On the back of one of the major FII selloffs seen in recent times, the markets succumbed to strong corrective pressure through the week and ended the week on a very weak note. The Nifty 50 remained under selling pressure for the entire week; at no point in time, did it show any intention to … Read more
Target Price: Rs 2,700 Stop Loss: Rs 2,250 ACC appears to be following its 30-day harmonic cycle. According to the cycle analysis, the security halted its downward move on September 3rd. From September 4th onward, buying activity has increased, with subsequent days showing continued buying and rising volume, indicating strong buyer interest. The upward movement … Read more
Nifty ended Tuesday’s session 21 points higher to form a Doji candle as 25,000 emerged as a strong hurdle. The short-term trend of Nifty continues to be choppy, but the near-term uptrend status remains intact. The overall chart pattern is signaling some more consolidation or minor dip in the next 1-2 sessions before bouncing back … Read more
After forming fourth successive bull candles on the daily chart, Nifty ended June derivative series above the 24,000-mark for the first time ever amid short covering. The underlying trend of Nifty continues to be positive. A sustainable move above 24000-24100 levels could pull Nifty towards another Fibonacci extension resistance of around 24380-24400 levels in the … Read more