Technically, Nifty formed a green candle on the daily scale on Wednesday, indicating strength. Additionally, the Smallcap 100 index has rebounded from its previous support, forming a bullish engulfing pattern, while the Midcap 100 index has surpassed the previously formed hammer candles high, further reinforcing positive sentiment. In light of the broader market strength, a … Read more
The Nifty index opened flat, and witnessed selling pressure in the first half, but saw a sharp recovery in the second half, ultimately settling marginally lower at 22,945. The volatility index, India VIX, cooled off from 16.32 levels, declining 0.36% to 15.67. Technically, on a daily scale, Nifty has formed a Hammer candlestick pattern near … Read more
The Nifty index opened on a negative note on Wednesday, faced heavy selling pressure in the first half, but later witnessed recovery and finally settled on a flat to negative note at 23,045. The volatility index, India VIX, cooled off from 15.62 levels but still settled slightly higher by 0.16% at 14.90. Technically speaking, Nifty … Read more
The Nifty remained mostly sideways during Wednesday’s session before closing slightly lower. On the lower end, the fall was limited to around 23,700, while the upside was capped at approximately 23,800. However, in the short term, the trend continues to favour the bulls as the index remains above the critical moving average, supporting a bullish … Read more
The Nifty formed a red candle on the daily chart on Thursday, but respected the demand zone of 23,460–23,500, settling near the 200-day simple moving average (250-DSMA) support. If the index holds 23,460, a short-term pullback towards 23,800-23,900 is possible. On the higher side, the index will find resistance near the 23,930 mark, where its … Read more
Indian bench indices Sensex and Nifty ended their five-day losing streak on Monday, December 23, led by banks and FMCG stock. While the 30-stock BSE Sensex finished at 78,540.17, rising by just 498.58 points or 0.64%, the broader Nifty50 finished at 23,753.45, rising by 165.95 points or 0.7%. Commenting on the day’s action analyst Satish … Read more
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
On the daily chart on Thursday, Nifty formed a big red candle, indicating weakness. However, the index is approaching the previous demand zone of 24,690. If Nifty sustains below 24,690 level, further downside could be likely, taking it towards 24,500–24,400 levels. On the upside, immediate resistance is positioned at the psychological level of 25,000, followed … 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
Nifty ended Monday’s session with a gain of 187 points and was only about 68 points away from crossing its previous all-time peak of 25,078. On the daily chart, the index formed a long bull candle with a minor upper shadow. Technically, this pattern indicates an attempt of upside breakout of the previous down gap … Read more