Markets turned highly volatile on Tuesday witnessing wild swings from early losses to finally end in the positive terrain on the back of gains in Bank Nifty. The 100 EMA has turned a formidable resistance for Nifty with prices unable to cross above Mondays high which is clearly a sign of bearishness. As the previous week closing was well below 24232, the weekly rebound is unlikely to sustain...
Markets on Monday rebounded on back of positive sentiment during Muhurat week but cooled off from days high to close with gains of less than percent. The rebound has to surpass the 100-day exponential moving average which indicates markets have already signaled a major breakdown. The current rebound is unlikely to extend beyond 24500 and the next leg of down move could easily force prices...
Markets extended losses for fourth straight week with Nifty breaching key support of 24232 on closing basis and opening gates for potential breakdown of 15%. The attack on Iran by Israel is likely to raise tensions in middle east with militant group from Lebanon and Syria may be forced to increase quantum of attack on Israel in coming days. Overall data suggests that with weekly closing below...
Markets ended red on Thursday with Nifty forming Doji candle and closed below 100 day Moving average indicates indecision between buyers and sellers. A minor support level is evident in the 24,200 to 24,250 range. If prices break below this zone, we may witness increased selling activity, with potential targets extending down to 22,800. Result Today – BEL, J&K Bank Nifty 50...
Markets extended losses with Nifty recouping earlier gains to finally settle below the psychological support of 24500 despite oversold Nifty. There is minor round of support seen in range of 24,200-24,250 and below same we may see another round of selling getting activated for target towards 22,800. The declining trend in consumption stocks suggests that the markets are poised for a...
Nifty broke below its 3-day range as well as from the head and shoulder pattern on daily charts. Targets for this pattern stand at 24225 / 23850 on the downside in the near term. Selling pressure was seen all through yesterday’s trading session with midcap and small cap indices seeing deeper cuts. Overall, the outlook remains cautious with near term target seen at 22,800. Result...
After a 300-point drop in the opening hour of trade, Nifty consolidated for the rest of trading day in its first trading session of this week. Overall, the index broadly remained in the range between 24750 – 25030 and either side was not broken on a closing basis. Markets remain indecisive at the current levels. The ongoing results season will dictate the stock specific trend in the...
Markets exhibited weakness for third straight week with Nifty closing well below the 25,000 mark. However, despite rebound from 24,700 zone, the outlook remains cautious with near term target seen at 22,800. The formation of lower high and lower low on weekly chart suggests that major volatility is likely in the coming days. Result Today – Bajaj Housing Finance, Gravita, Ultratech...
Markets activated larger decline led by broad based selling with Nifty breaching key support of 24,800 despite strength in global markets. The 2 yrs of bullish setup in Tokyo Nifty inverse suggest that Nifty 50 Index likely is to be positioned for 20% fall in the coming months with immediate target seen at 22,900. The Nifty has entered free fall zone below 24,800, after which wider single day...
Markets extended selling pressure on Wednesday after a bearish dark cloud cover on Tuesday and was followed by closing below the psychological mark of 25,000 in Nifty. The inherent strength of markets has diminished in the past few days and any attempts to rally higher are met with stiff resistance with broad based selling. The current state of markets may be a pause before a larger decline...