Strategy PositionsSell 27th April Nifty 17900 Call at 121-125 & Sell 27th April 17900 Put at 136-140, Target: 100, Stoploss: 360 Time Frame: till expiry.RationaleThe Nifty extended its gains by another 1% in a truncated last week and tested our targets of 17800, driven largely by short covering. Once again, financial stocks were major gainers … Read more
Nifty today formed a bearish candle on the daily chart with a minor lower shadow. The index has been forming lower highs – lower lows from the last three trading sessions. Now, it has to cross and hold above 17,888 zones, for an up move towards 18,035 then 18,081 zones, whereas supports are placed at … Read more
Ahead of Finance Minister Nirmala Sitharaman’s Budget presentation and US Fed meeting outcome, Nifty today formed a small-bodied bearish candle with a longer lower shadow on the daily time frame. Chart readers said support-based buying was seen at lower levels but the trend is taking pressure at higher zones. Now, it is likely to remain … Read more
Indicating non-directional activity in the market, the headline equity index Nifty today formed a Doji candle on the daily charts on weekly derivative expiry. The index has been making higher lows from the last five sessions. Now, it has to hold above 18,081 zones for an up move towards 18,181 and 18,250 zones whereas supports … Read more
In the week that has gone by, the NIFTY once again made measured moves. It continued to strongly inherit buoyancy from the US markets that tried to stabilise themselves and put a potential temporary bottom in place. The previous week was a four-day week with one trading holiday on account of Dussehra. Nifty moved in … Read more
Indian market closed in the red for the second consecutive day in a row on Tuesday following muted global cues. The S&P BSE Sensex was down by more than 150 points while the Nifty50 closed below 15,800 levels. Sectorally, selling pressure was seen in energy, oil & gas, auto, finance, and metal stocks while buying … Read more
By Lu Wang and Claire Ballentine With bond yields jumping and inflation expectations surging, this would seem like a strange time for optimism to break out among Wall Street’s equities handicappers. But that’s exactly what it has done. And the reasons offer a lens into what kept the stock market’s worst three-day decline since October … Read more