Ahead of Market: 12 things that will decide stock action on Tuesday
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Nifty ended at 15,583, managing to cross the crucial level of 15,550 on a closing basis.
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NEW DELHI: Domestic indices on Monday extended last week s gains and rose nearly 1 per cent to hit fresh record highs. Strong buying interest seen in
RIL and private financial stocks boosted investors’ sentiments. Nifty ended at 15,583, managing to cross the crucial level of 15,550 on a closing basis.
Nifty rose for the seventh straight session and formed a bullish candle on the daily chart. Analysts said there is a good chance of Nifty50 further extending these gains and climbing to 15,700 level if it manages to hold the crucial support level of 15,370. Will Nifty continue its upward journey or consolidate a bit in the next few sessions?
Even though the 50-scrip Nifty rose for the sixth straight session and closed at lifetime high, it formed an indecisive Doji on the daily chart, signalling weakness and some profit booking ahead.
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Ahead of Market: 12 things that will decide stock action on Tuesday
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Last Updated: May 17, 2021, 10:06 PM IST
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Nifty formed a healthy bullish candle on the daily scale even as it negated the formation of lower highs and lows of the last three sessions.
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Manish Hathiramani, Proprietary Index Trader and Technical Analyst of Deen Dayal Investments, said the market may remain bullish as it has managed to zoom past the 14,850 level.
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By Sabari Saran
New Delhi: Dalal Street s fear gauge, India VIX, on Monday recorded the lowest close in 87 sessions since January 1, 2021, signalling a sharp drop in volatility. Meanwhile, Nifty formed a healthy bullish candle on the daily scale even as it negated the formation of lower highs and lows of the last three sessions.
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