NIFTY TECHNICAL VIEW
Nifty gains continue amid narrowing trading range and low volatility
The markets continued with their unabated upmove in the week that went by and ended once again with net gains. While continuing with the advance the Nifty 50 Index extended its move higher. However, as compared to the previous week, this time, the trading range got narrower as the Index oscillated 408.30 points against 824 points.
Tech View: Nifty bulls strong till 24,200. Here’s how to trade next week
With the underlying trend of Nifty being positive, possibility of an upside breakout around 24,400-24,500 levels in next few sessions looks plausible. Analysts see immediate support at the 24,170 level.
Tech View: Nifty traders await breakout on either side. Here’s how to trade on Friday
The overall trend of Nifty remains positive as per smaller to larger time frame chart. Having placed at the hurdle of around 24400 levels (1.618% Fibonacci Extension), there is a possibility of this consolidation/minor dip extending for the coming sessions. Immediate support is at 10 day-EMA at 23,990, said Nagaraj Shetti of HDFC Securities.
Tech View: Nifty needs a decisive move above 24,400. Here’s how to trade on Thursday
Nifty ended Wednesday’s session with a gain of 163 points to form a small negative candle but broke out of a sideways consolidation movement on the daily chart ahead of Thursday’s expiry.
Tech View: Nifty bulls getting tired at peaks. Here’s how to trade on Wednesday
Nifty ended Tuesday’s session with a small loss of 18 points to form a small red candle on the daily chart which indicated that bulls are getting tired at peaks.
Tech View: Nifty breaks 4-day winning streak. Here’s how to trade next week
Nifty ended Friday’s session with a loss of 34 points and broke the four-day winning streak by forming a small-bodied red candle.
- Go To Page 1
Tech View: Nifty breaks key hurdle after 2 weeks. Here’s how to trade on Wednesday
Nifty maintains positive momentum, poised for potential breakout towards 24,000 with immediate support at 23,550, says HDFC Securities analyst. According to experts, Nifty moved above 23,700 to make a new all-time high of 23,754, showing resilience amid global sluggishness.
Tech View: Nifty may test 23,700 in short term. Here’s how to trade on Tuesday
Nifty maintains positive momentum, aiming for the 23,650-23,700 range with immediate support at 23,350, according to HDFC Securities' Nagaraj Shetti.
Tech View: Nifty likely to trade in a range
Nifty's trajectory remains uncertain, influenced by sector rotation and FIIs' activities. Investors should focus on specific stocks and sectors for trading opportunities to capitalize on market movements.
Tech View: Nifty chart shows bearish candle formation. What traders should do on Monday
Nifty struggled to hold above the day’s opening range, indicating bullish sentiments going sore on the Summer Solstice Day, observed experts.
Tech View: Nifty giving non-directional moves. Here’s how to trade on Friday
According to experts, the short-term trend of Nifty remains positive despite high volatility. After surpassing the resistance level of 22,250, the index shows a probability of moving towards the next resistance at 23,200 in the near term. Immediate support is at 22,640
Tech View: Nifty forms bearish engulfing pattern. Here’s how to trade on Thursday
Nifty placed at the highs, but that’s not any confirmation of any significant reversal pattern building at the highs. Again, weakness below 23,300 levels could be considered as a short-term top reversal pattern.
Tech View: 23,500 key support for trend-following traders. Here’s how to trade on Wednesday
As it has sustained above the hurdle of 23,515 levels, it is expected that Nifty would move towards the next resistance of 1.786% Fib extension at 23,950 levels in the near term. The immediate support is placed at 23,450.
Tech View: Nifty forms long-legged Doji candle on charts. Here’s how to trade next week
With its continued range-bound action within 23,300-23,500 levels, Nifty is not showing any early breakout signs on either side. A decisive move above 23,500 levels may open an upside breakout and a slide below 23,300 levels could mean a chance of downside breakout of the range movement in the near term.
Tech View: Sideways Nifty getting primed for sharp move. Here’s how to trade on Friday
Nifty formed a small negative candle with a minor lower shadow. The short-term trend of Nifty continues to be a range bound with positive bias. Nifty has been consolidating in the broad range of 23,200-23,500. A decisive close beyond the boundaries can lead to a trending move.
Tech View: Nifty facing hurdle at 23,400-23,500. Here’s how to trade on Thursday expiry
Nifty’s hourly momentum indicator has a negative crossover and so the rallies are short-lived and failing to persist at higher levels. Traders should opt for buy-on-a-dip strategy around 23,150 – 23,100.
Ahead of Market: 10 things that will decide stock action on Monday
Nifty50 and Sensex, the benchmark equity indices, reached record highs on Friday, reclaiming losses incurred on election day. The surge was attributed to expectations of political stability and forecasts indicating accelerated economic growth.
Tech View: Nifty forms long bull candle on daily chart. Here’s how to trade next week
Nagaraj Shetti of HDFC Securities noted that the market has reached an overhead resistance at around 23,300-23,400 levels, suggesting a potential minor dip in the short term, which could present a buying opportunity. He identified immediate support at the 22,900 level.
Ahead of Market: 10 things that will decide D-Street action on Friday
The NSE Nifty 50 index ended 0.89% higher at 22,821 points and the S&P BSE Sensex rose 0.93% to 75,074, adding to their gains of more than 3% on Wednesday.
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 Thursday
Benchmark key indices gained over 3% each on Wednesday. The Nifty Bank saw its best percentage gain since February 1, 2021. HDFC Bank, SBI, L&T were among the most active stocks on NSE in value terms. The market breadth favoured bulls with 2,597 stocks ending in the green, while 1,221 names settling with cuts.
Tech View: Nifty ends above 21 EMA. What traders should do on Thursday
Nifty saw a gap-up opening on Wednesday and call writers (bears) are seen exiting with additional PUT writers at all strikes from 21,500 until 22,200. This, analysts believe, led to the sharp recovery in the 50-stock index.
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.
Ahead of Market: 10 things that will decide D-Street action on Tuesday
D-Street settled at record closing high on Monday, led by financials, index heavyweight Reliance Industries and energy stocks. The volatility indicator ended 15% lower as exit polls predicted that PM Narendra Modi will retain power with a landslide victory. Momentum indicator Moving Average Convergence Divergence showed bullish trade on the counters of Amines & Plasticizers, Advait Infratech, and AMIC Forging, among others.
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 D-Street action on Friday
Nifty ended Thursday with a decline of 216 points, driven by strong selling pressure across most sectors. The 50-stock index fell for the fifth consecutive session and is now trading below the crucial 21-day Exponential Moving Average (21EMA).
Ahead of Market: 10 things that will decide D-Street action on Thursday
The Nifty experienced a decline of 183 points, closing near the 22,700 level, and formed a "dark cloud cover" candlestick pattern, a bearish signal. The Indian market saw its worst session in nearly three weeks on Wednesday, dragged down by losses in heavyweight financials and IT stocks.
Ahead of Market: 10 things that will decide stock action on Wednesday
After gyrating between gains and losses during the day, the 30-share BSE Sensex ended 0.29% lower at 75,170.45. Nifty formed a bearish candle on the daily scale. The index is trading above its key moving average supports and the RSI on the daily chart is positive.
Ahead of Market: 10 things that will decide D-Street action on Tuesday
Nifty on Monday ended 25 points lower to form a minor bearish candle on the daily chart. The up move was not supported by the momentum as on the hourly time frame there is a negative crossover, analysts said.
Load More
