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    50 DAY SMA

    Tech View: Profit booking likely at higher levels. Here’s how to trade on Friday

    The short-term trend of Nifty remains positive despite high volatility. On moving above the hurdle of 22,250 level recently, Nifty still has chances to move towards the next upper hurdle of 23,200 in the near term.

    Ahead of Market: 10 things that will decide D-Street action on Wednesday

    Indian benchmark indices slipped around 6% each on Tuesday, a day after the blue-chip indices surged to record highs on Monday as exit polls had projected a much bigger margin of victory. MACD showed bullish trade on the counters of Solar Industries, Sobha, Phoenix Mills, and Container Corporation of India. Shares of India Cement, Zee Entertainment Enterprises, Bandhan Bank, Dalmia Bharat hit their 52-week lows.

    Tech View: Nifty forms long bearish candle. Here’s how to trade on Wednesday

    Nifty slipped below short-term and medium-term averages. Now, 50-day SMA or 22,400/73,500 and 22,500/74,000 are likely to act as key resistance areas for traders. Nifty has violated the higher-top and higher-bottom formations and suggests change in short-term trend.

    Ahead of Market: 10 things that will decide D-St action on Monday

    Nifty formed a long-legged Doji candle on the daily charts to breach a 5-day losing streak as it ended 42 points higher at 22,531. The 50-DMA is placed at around the 22,400 level, and a slip below this level could shift the test to the 22,300-22,260 zone.

    Ahead of Market: 10 things that will decide stock action on Monday

    Indian blue-chip equity indices ended flat on Friday, with NSE Nifty 50 and S&P BSE Sensex gaining 2.2% and 2.02% for the week, led by financials and metal stocks.

    Ahead of Market: 10 things that will decide D-Street action on Wednesday

    Benchmark equity indices recovered to close flat on Tuesday, with gains in metal stocks offsetting declines in other sectors following top consumer China's property-support measures.

    The Economic Times
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