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A few analysts said Friday's fall could just be a single-day affair, but for that to be true the index needs to close above the 14,500 level on Monday, they said.
Explore Now Strong quarterly numbers from IT majors Infosys and Wipro and firm cues from other Asian markets may give domestic indices a positive start on Thursday, even as technical charts are showing signs of weakness. Here’s breaking down the pre-market actions: STATE OF THE MARKETS Nifty futures on the Singapore Exchange traded 28.5 points, or 0.20 per cent, higher at 14,601, in signs that Dalal Street was headed for a positive start on Thursday. Tech View: Nifty50 sends signs of weakness Nifty50 on Wednesday tested the 14,450 level in a sharp intraday selloff, only to recover fully by...
Technical View: Nifty forms Hanging Man pattern again, analysts say focus on stock-specific opportunities Traders should remain cautious and focus on stock-specific opportunities rather than waging directional bets on the index, Mazhar Mohammad of Chartviewindia.in has said. Sunil Shankar Matkar January 14, 2021 / 05:31 PM IST The Nifty50 closed at a record high for the fifth consecutive session following strength in the afternoon amid volatility on January 14. Index heavyweights Reliance Industries, HDFC Group, ITC, L&T and TCS supported the m...
Ahead of Market: 12 things that will decide stock action on Thursday SECTIONS Share Synopsis Rohit Singre, Senior Technical Analyst at LKP Securities said, "The index has formed a good base near 14,500-14,430 zone and any break below said levels can emerge in more profit booking." Analysts said the index could be in for some consolidation, and believe Nifty testing of the 14,400-14,367 range could put an end to the ongoing strong momentum. Related NEW DELHI: Nifty today touched its fresh all time high, but soon saw a bout of profit booking and settled at almost the same level as the previou...
Technical View: Nifty forms Hanging Man pattern, tread with caution though no sell signal yet The index ended at fresh record closing high for the fourth consecutive session but formed a bearish candle which resembles a Hanging Man kind of pattern on the daily charts. Sunil Shankar Matkar January 13, 2021 / 05:44 PM IST The Nifty50 on January 13 recovered smartly from the day's low to close flat but failed to regain opening gains. The contraction in factory output for November and concerns over the upcoming Union Budget weighed on the sentime...