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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: Nifty50 breached the swing high of 15,273 on Friday only to come crashing down later. The index ended up forming a ‘Bearish Engulfing’ candle on the daily chart and a ‘Gravestone Doji’ formation on the weekly chart. The only silver lining for the day was that the index still managed to close above the 15,000 mark. Mazhar Mohammad of Chartviewindia.in said Nifty50 seems to be moving sideways and is drawing support from its 20-day exponential moving average that stands at 14,95...

NEW DELHI: Nifty50 took out its immediate resistance at 15,100 level on Wednesday, but formed a small bearish candle with a long lower wick, suggesting intraday selling got bought into. Analysts said the index seems to have won a mini-battle, but is still indecisive and needs to take out the 15,220 level for the positive momentum to sustain. Aditya Agarwala, Senior Technical Analyst, YES Securities, said the bulls seem to have won the mini-battle of taking Nifty50 beyond the intermediate hurdle...

The index has been trading roughly in the 14,900-15,100 range for the past three sessions and analysts said the way the index rallied in the last hour of Tuesdays trade suggested that it is gearing up for a breakout on the upside.

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...

Rohit Singre, Senior Technical Analyst at LKP Securities said, "Nifty has formed immediate support near 14,640-14,580 zone and good resistance is coming near 14,810 zone. Any break above said levels can push index towards 15,000-mark again."

Much of the post-Budget rally has been due to FII piling on stocks after the government unveiled its capex plans.

The index witnessed profit booking in the last hour of the trade on Tuesday, February 9, 2021. Nifty ended with a minor loss to close at 15,109. Nifty, Bank Nifty and Financial Nifty indices have been forming candle with the small body for the last three consecutive sessions, which indicates that bullish momentum is getting lost. Post Budget, markets have registered a sharp rally and still, there is no sign of reversal seen as of yet. Nearest support for the Nifty is seen at 5 days EMA which ...