Page 40 - Technical Analyst News Today

Nifty futures on the NSE International Exchange traded 13 points, or 0.06 per cent, lower at 21,861, hinting at a flattish start for the domestic market on Tuesday.

Nifty futures on the NSE International Exchange traded 27 points, or 0.12 per cent, lower at 21,807.50, hinting at a negative start for the domestic market on Monday.

The Nifty future closed negative with losses of 0.37% at 21861 levels on Friday. India VIX was down by 4.21% from 15.14 to 14.50 levels. Volatility cooled off after steaming to higher zones and respected the bulls at higher zones.

As it will be the last trading week before the key event, which coincides with the F&O expiry, heightened volatility is expected, says Rajesh Bhosale, Technical Analyst, Angel One.

​The Indian market snapped a 5-day winning streak to close in the red on Friday as investors preferred to book profits at higher levels.

The Nifty 50 index closed 0.22% lower at 21,731 points, while the Sensex settled 0.23% down at 72,240 points -- both only slightly shy of the record highs hit in the previous session.

There is a possibility of short-term consolidation or range movement for the next 1-2 sessions before resuming its upside momentum in the coming sessions. Immediate support is placed at 21,550 and the next upside targets are to be watched around 22,000-22,200 levels, Nagaraj Shetti of HDFC Securities said.

Stocks that were in focus included names like Zomato, which fell 3.03%, Hudco, which jumped 12.19%, and Canara Bank, whose shares gained 1.7% on Thursday.

​Nifty on Thursday ended 124 points higher and crossed the 21,800 level for the first time to form a reasonable positive candle at the highs and indicate an uptrend continuation pattern.

The 50-member Nifty index has now hit a record high in 13 of 19 sessions in December. It gained over 8% so far in the month, on track for its best month since July 2022.