The Nifty formed a bearish engulfing candle on the weekly chart as it ended Friday’s trading session on a negative note as the index plunged ahead of a key U.S. jobs report, which could influence the Federal Reserve‘s decisions on the pace and magnitude of interest rate cuts. The 50 component index Nifty 50 as … Read more
On June 19, 2024, the Bank Nifty reached a new high of 51,957. This milestone could be just the beginning, with potential for further acceleration and growth. It’s a known fact that due to improved operational efficiencies, the implementation of the Insolvency and Bankruptcy Code and cautious lending practices by PSU banks have significantly enhanced … Read more
Benchmark indices showed exuberance on Friday after the Reserve Bank of India hiked key policy rates on expected lines. Nifty gained over 275 points to close at 17,094, while Sensex climbed more than 1,000 points to end the week at 57,426. Nevertheless, on a weekly basis, benchmark indices registered a fall of over 1%. The … Read more
NEW DELHI: NIfty50 on Thursday took its losing run to a third straight session and, in the process, fell below its 50-day simple moving average (SMA). The index settled below the 17,800 level and formed a bearish candle on the daily scale. The index has continued to form lower high-low pattern and analysts believe a … Read more