NIFTY: Since the last week of October 2019, the NIFTY has been moving with strong support in the 11900 area which it repeatedly tests. We have a pattern of a flat support level at 11900 and higher highs. The pattern can be considered to be a rising, inverted triangle, or, simply an inverted ascending triangle…
NIFTY: The NIFTY today held on to a significant support zone between 12130 and 12150. An early morning dip into this support zone was immediately bought into, and the NIFTY was up for the rest of the day. The index closed well above 12200. It is like that a pre – budget rally has…
NIFTY: We are aware that the economy is going through a difficult phase. We can be sure that the government is also aware of this. The Union budget, which is a statement of the government purpose , is probably the best location to give direction to the economy. Whatever the budget says, we are confident…
NIFTY: The NIFTY opened with an upward gap of 49 points. Prices have quickly moved down filled the gap and then continued its weak momentum for the whole day. Final closing was at 12106.90 down by 62.95 points. The NIFTY also broke down from a support zone identified earlier around 12120-12150 zone. We have discussed…
NIFTY: During yesterday, January 20, Monday, the markets had a wide range of almost 210 points. The Nifty closed at the low of the day yesterday. The index in fact, closed again today at the low of the day. The difference was in the trading range that the NIFTY had today – just 68…
NIFTY: The NIFTY was moving in a narrow range last week. This week onwards, the index decided to take a trend and this trend is a breakdown from the range. Over the weekend, Q3 results of RELIANCE and HDFC BANK apparently enthused the market. The NIFTY opened higher on Monday morning and actually went to…
NIFTY: The NIFTY had a slow day today, moving almost nowhere throughout the day, eventually closing the market and the week, almost unchanged for the day. We suggested yesterday that the NIFTY may now be entering into a phase of consolidation. Within this narrow range in which the index is now trading, today was a…
NIFTY: The NIFTY continued with its winning spree by closing higher once more, recording a gain of about 10 points over its previous close. This is about .10%, but the spectacular highlight of this gain is the fact that it came after all. The index has been rolling since it made a low at…
NIFTY: The nifty had an intraday correction of some decent magnitude, when it fell almost 70 points from its close yesterday. Not surprisingly, support cane in almost exactly at the previous lifetime high of 12290. The nifty in fact recorded an intraday low of 12279, almost stopping its decline at the previous life time…
NIFTY: The nifty today staged a remarkable feat, affirming or rather reaffirming its strength by trading completely above the last lifetime new high of 12290. the message was: the index is prepared to leave aside earlier record levels, and go ahead to completely uncharted territory. Now if this sounds bullish, it is supposed to be…