Nifty Technical Analysis News Today

Nifty 50 closed lower due to state-run banks, while S&P BSE Sensex closed slightly higher. Analysts suggest selling if Nifty breaches 22348 or rises to 22570-22620. US markets rose on Fed rate cut hopes.

Indian shares declined on Friday, as profit booking emerged after the Nifty 50 scaled a record high, trimming weekly gains for the blue-chip indices

Nifty ended about 39 points lower on Tuesday to form a Shooting Star pattern on the daily chart to indicate strong possibility of further weakness from current levels.

Indian shares rose on Monday as gains in the second-largest private lender ICICI Bank on better-than-expected quarterly profit spurred a rise in heavyweight financials.

Sensex on Thursday surged 487 points to settle at 74,339. NSE Nifty advanced 168 points to close at 22,570. Nifty formed a bullish engulfing candle following a series of small candles

The benchmark NSE Nifty50 and the S&P BSE Sensex indexes each settled about 0.2% higher at 22,402 and 73,853, respectively. Nifty on Wednesday ended 34 points higher to form a Doji candle on the daily chart which indicates indecisiveness prevailing in the marketplace at the current juncture.

The NSE Nifty 50 settled 0.14% higher at 22,368, while the S&P BSE Sensex rose 0.12% to 73,738. They have gained about 1.7% each over the past three sessions.

Indian benchmark equity indices defied global weakness to close higher on Friday, boosted by HDFC Bank, although the gains were not enough to prevent their first weekly loss in five on worries over the Middle East conflict and U.S. rates.

Indias benchmark indices hit new highs on strong global demand expectations. Analysts suggest buying on dips and selling on rallies strategy. US stocks rise, European shares slip ahead of ECB decision. MACD signals bullish trade on select stocks.

The Nifty 50 ended flat at 22,513 points, and the pattern on the daily chart suggests that the index is consolidating after a sharp run-up, which is a healthy sign.