Stay updated with breaking news from Share Tips. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
After the MPC outcome, the benchmark indices saw a rush to book profits, that drove the BSE Sensex down 493 points to 71,659, and the Nifty 50 down 137 points to 21,793, forming a bearish candlestick pattern on the daily charts
Rate My Portfolio: Victoria Scholar gives her expert opinion on a reader’s investments
The hourly chart reveals ongoing strength in both MACD (moving average convergence divergence) and RSI (relative strength index) indicators, hinting at sustained positive momentum.
The view will remain bullish till Nifty 50 trades above 20-DMA around 21,650. Above 22,125, we can expect fresh bullish momentum towards 22,300/22,500 levels.
Ipca Laboratories saw a breakout of downward sloping resistance trendline adjoining highs of December 5 last year and January 12 this year. The stock formed strong bullish candlestick pattern on the daily charts with healthy volumes.