Page 2 - Nifty Analysis News Today

NEW DELHI: Nifty50 climbed over 1 per cent on Thursday and formed a bullish candle on the daily chart with a long lower wick, which reflected buying at lower levels with support at the 13-day moving average. At close, the index stood above its 20-day and 50-day simple moving averages and nullified the Bearish Belt Hold pattern formed in the previous session. Analysts advised traders not to read much into the moving averages in a sideways market, but believe a breach of the 14,900 level could br...

NEW DELHI: Nifty50 dropped for the fourth straight session on Wednesday and formed a long bearish candle on the daily chart. This was the fifth straight session when the index formed a bearish candle. Nifty has barely held on to its 50-day moving average at 14,720 and a breach of this level could now trigger a steep downside in the near term. Any upside on the index is likely to be capped at 14,950 level, said analysts. Mazhar Mohammad of Chartviewindia.in said Nifty has registered a new correc...

NEW DELHI: Nifty declined for the third straight session on Tuesday and formed a bearish candle on the daily chart. During the day, the index broke below its 20-day moving average. Analysts said market is likely to see sideways action now, but any failure to stage a recovery from here on could potentially send the Nifty tumbling towards the 14,720 level, which is near Niftys 50-day simple moving average. Mazhar Mohammad of Chartviewindia.in said the index could trade sideways to positive, prov...

India VIX fell 7.79% from 22.49 to 20.74 levels. A cooldown in VIX below the 21-20 zone is needed for the bullish grip and a smoother move to continue in the market.

Going ahead from here, despite some temporary technical pullback that cannot be ruled out, Nifty is bound to find resistance in the 15,200-15,275 zone.

Tech View: Nifty50 loses its crucial support, likely to see more downside SECTIONS Share Synopsis “Momentum indicator RSI has turned down from the crucial upper end of the bear territory i.e. 60 on two occasions now, clearly indicating that the uptrend is losing momentum and if the bears push Nifty50 below 14,870 level, it can slide lower to the 14,770-14,650 zone,” said Aditya Agarwala of YES Securities. Getty Images Mazhar Mohammad of Chartviewindia.in said the weakness can initially exte...

Nagaraj Shetti of HDFC Securities said the index is on the verge of moving up and filling the gap of the opening downside gap of February 26 and the upside gap of February 25.

Independent analyst Manish Shah said if one blends the candles of last two days, what we see is a long candle that runs parallel to Mondays debacle.

Analysts are positive, but believe the ongoing momentum can turn sideways if the index fails to reclaim the 15,000 level soon.

The levels of 14,790 and 17,845 will act as resistance points, while support will come in at 14,650 and 14,565.