Nifty ended Friday’s session 397 points higher to form a long bull candle on the daily chart with lower shadow and crossed the 21-DEMA placed at 24,365 levels. Nifty has now moved towards hurdle area of previous huge opening downside gap of 5th Aug and the said down gap is expected to be filled soon … Read more
Nifty ended Wednesday’s session near the flatline to form a small red candle on the daily chart, and indicate a probable halt in downside momentum. The immediate support of the ascending trend line has been broken on the downside recently and the significant opening downside gap of 5th August remains unfilled. This is a negative … Read more
Nifty ended the Budget day trading session 30 points lower on Tuesday to form a bullish hammer type candle pattern, signalling that bulls are trying to stage a comeback from lower levels. The short-term trend of Nifty remains negative with high volatility. Emergence of sharp buying and the formation of a positive candle pattern on … Read more
Nifty ended Monday’s trading session 22 points lower near the 20,500-level as traders adopted a cautious approach ahead of the presentation of the Union Budget on Tuesday. The daily and hourly momentum indicator has a negative crossover which is a sell signal. Crucial support levels to be kept handy are 24,265 (20-day moving average) and … Read more
Nifty on Wednesday ended 183 points lower near the 22,700 level as the index formed a dark cloud cover candlestick pattern on the daily chart. Support for Nifty is now seen at 22,675-700 and 22,500 levels. On the higher side, the immediate resistance zone is at 22,825-850 levels and the next psychological resistance is at … Read more
Nifty on Friday ended near the flatline after climbing the 23,000-mark for the first time in history. The index formed a Doji candle during the day after Thursday’s big bull candle. On the daily chart, Nifty continues to hold above the 20 and 50-day SMA, which is a positive signal. The 14-day RSI at 67.5 … Read more
Nifty ended the Thursday weekly expiry stronger by 370 points at record high levels to form a long bull candle on the daily chart. On the higher end, above 23,000, the index might move towards 23,500 in the short term. On the lower end, support is placed at 22,800; the strength could remain intact as … Read more
Nifty today ended 69 points higher to form a bullish candle with a long tail, indicating strong buying interest. The index is now making a higher high on both daily and weekly charts. Nifty is holding its position above the previous resistance zone of 22,590, which is now acting as a crucial support level. Immediate … Read more
Nifty on Tuesday ended 27 points higher to form a small positive candle on the daily chart while consolidating in a range between 22,400-22,600 levels. The index continues to hold above the 20 and 50-day SMA, which is a positive signal. The 14-day RSI at 56.38 is rising and not overbought, which is encouraging. The … Read more
Nifty on Friday ended 62 points higher to form a High Wave type of candle on the daily chart. The index recouped losses of its previous week and is now eyeing reclaiming the lifetime high zone. The short-term trend of Nifty is positive and the next upside levels to be watched are around 22,700-22,800 levels … Read more