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Nifty: Dalal Street Week Ahead: High-beta buying to emerge only after Nifty tops 15K


In a technically important week, the equity market pulled up from the lows hit in the previous two weeks. Nifty saw a narrower trading range than the week before. The index oscillated in a 446-point range over the past five session and kept on trending on the upside.
Except for some intermittent hiccups, the market broadly edged higher. While continuing to stay within the Falling Channel and following a relatively quiet and less volatile week, the headline index ended with a net gain of 192 points, or 1.31 per cent, on a weekly basis.
Over the past sessions, Nifty violated some important rising trend line supports; this trend line was drawn from the lows of March 2020, which joined the subsequent higher bottoms. However, the price action over the past couple of days has led the index to move above this trend line again. From a technical perspective, this would be important; if Nifty stays above this rising trend line, then we may see it test the upper edge of the Falling C ....

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Nifty: Dalal Street Week Ahead: Nifty violating an important trendline is not a good sign


In a week where the trading range stayed narrower than the previous week, Indian equities saw a corrective decline. This was also a truncated week with just four trading sessions, and saw the headline index oscillate in a 375-point range.
While the trading range remained narrow, intraday volatility and ranged oscillations remained high. Nifty remained in the falling channel that it has formed, but refused to take any directional cue through the week.
In a volatile trading week, the benchmark index finally ended with a net loss of 276 points, or 1.89 per cent, on a weekly basis.
Despite having a narrow trading range, Nifty’s most recent move was a bit technically damaging on the weekly charts. In the previous weekly note, we had mentioned that Nifty had violated the rising trendline pattern support, but managed to bounce off that trendline. This trendline is a major pattern support, drawn from the lows made in March 2020, which joins the subsequent higher bottoms unti ....

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Nifty outlook: Dalal Street week ahead: Nifty looks indecisive; the best thing to do is remain stock-specific


Domestic equities continued to relatively underperform their global peers in the last four sessions, and ended the week on a modestly negative note. The week gone by was a truncated one, as Wednesday was a trading holiday. Nifty had a similarly wide trading range, as it oscillated in a range of 500-odd points before closing on a negative note. The first day of the week was saw the market close deep in the red; while the subsequent three sessions saw Nifty stage a pullback rally.
Following such volatile moves, the headline index ended with a net loss of 217 points, or 1.46 per cent, on a weekly basis. ....

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