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NEW DELHI: Nifty's promising gap-up on Tuesday proved to be day's high, as the index ended the session forming a bearish candle on the daily chart that resembled Bearish Belt Hold. During the day, the Nifty bulls struggled at 14,500 level, even as they defended the crucial support of 14,200 well. The face saving-act, however, did not impress analysts, who believe the index could soon breach the 14,200 level and trigger more weakness. Sameet Chavan of Angel Broking said that the market is struggling at higher levels and Tuesday's session was a good example. "Tuesday's high coincided around th...

Tech View: Hammer candle on Nifty charts signals active buying at lows SECTIONS Share Synopsis Analysts said it was testing of the 14,200 level that brought buying on Nifty50 at lows. This level has been offering strong support to the index for the past few weeks and will do so in the immediate future, they said. Shutterstock.com Independent analyst Manish Shah said the context and the location of Monday’s Hammer suggest that the buyers were active in the market. Related NEW DELHI: Nifty50 tumbled over 250 points on Monday, but formed a Bullish Hammer candle on the daily scale, suggesting t...

Tech View: Nifty forms Hammer on weekly scale, lacks follow-up buying SECTIONS Share Synopsis Chandan Taparia of Motilal Oswal Securities said a ‘Hammer’ on weekly scale is indicating that declines are being bought into, but followup buying was missing at higher levels. Shutterstock.com Mazhar Mohammad of Chartviewindia.in said Friday's selling occurred from an intraday high of 14,697 after the index retraced 62 per cent of its last leg of fall from the highs of 14,984-248 levels. Related NSE Explore Now NEW DELHI: Nifty50 on Friday formed an indecisive Doji candle on the daily chart. On ...

NEW DELHI: After a rangebound session, Nifty50 managed to eke out gains and formed an Inside Bar pattern. It is a two-day price pattern that occurs when the second day’s movement has a range that is completely inside the first day’s price range. Nifty gained 45.70 points, or 0.31 per cent, to 14,683. During the session, the index moved in a range of 205 points, suggesting volatility in the market. “Nifty’s short-term trend remains rangebound. The market is witnessing an alternating ups and downs movement over the past four sessions. The current setup shows one may expect Nifty to rete...

NEW DELHI: Dalal Street traders turned extremely bearish on Nifty50 formed a long bearish candle for the day after the Maharashtra government imposed serious curbs in the state to stem the spread of Covid infection. Nifty50 tumbled 229 points, or 1.54 per cent, to 14,637 level. At one point of the day, the index had lost over 400 pints, but recovered some ground as some buying emerged at lower levels. Analysts said that buying may prove non-consequential. “Albeit Nifty50 recovered around 180 points from its intraday low of 14,459, it seems to have resumed its downswing, as the negative adva...