Tech view: Move above 24,700 likely to signal upside in Nifty. How to trade tomorrow

Tech view: Move above 24,700 likely to signal upside in Nifty. How to trade tomorrow

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

Tech View: Nifty forms high wave type candle on weekly chart. Here’s how to trade next week

Tech View: Nifty forms high wave type candle on weekly chart. Here’s how to trade next week

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

Tech view: Nifty shows signs of bounce back, in process to form double bottom. How to trade tomorrow

Tech view: Nifty shows signs of bounce back, in process to form double bottom. How to trade tomorrow

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

Dalal Street Week ahead: Is Nifty 50 poised for a short-term recovery?

Dalal Street Week ahead:  Is Nifty 50 poised for a short-term recovery?

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

Market Trading Guide: Canara Bank, SBI Card among 6 stock recommendations for Monday – Trading Guide

Market Trading Guide: Canara Bank, SBI Card among 6 stock recommendations for Monday – Trading Guide

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

Tech View: Nifty awaiting decisive move above 25,000. Here’s how to trade on Wednesday

Tech View: Nifty awaiting decisive move above 25,000. Here’s how to trade on Wednesday

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

Tech View: Short covering rally takes Nifty beyond 24K. Here’s how to trade on Friday

Tech View: Short covering rally takes Nifty beyond 24K. Here’s how to trade on Friday

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