Technical View: Nifty forms bullish candle, MACD gives a buy signal but tread with caution
Bravehearts, who are already long, are advised to maintain a tight stop below 14,714 levels on a closing basis and ride the rally, Mazhar Mohammad of Chartviewindia.in has said. Sunil Shankar Matkar February 04, 2021 / 04:27 PM IST
The Nifty50 after gained strength after initial hours of volatility to hit a new high on February 4 despite weak Asian cues. All sectors, barring IT and pharma, supported the rally.
It opened flat at 14,789.05 and hit the day s low of 14,714.75 amid volatility but gained strength later to extend the rally to hit a life-time high of 14,913.70. The index gained 105.70 points to end at a record closing high of 14,895.70.
After The Bell: Bull run continues for 3rd day; what should investors do on Thursday?
The Nifty has to continue to hold above 14,600 zones to continue its bullish momentum towards 14,850 and then 15,000 zones while support can be seen around 14,500 and then 14,400 zones, suggest experts. February 03, 2021 / 05:56 PM IST
Bulls remained in the driver s seat for the third consecutive day on January 3 pushing benchmark indices to fresh record highs. The S&P BSE Sensex hit a fresh record high of 50,526 while the Nifty50 hit a high of 14,868 levels.
Let’s look at the final tally on D-Street – the S&P BSE Sensex rose 458 points to 50,255 while the Nifty50 closed with gains of 142 points to 14,789.
Technical View: Nifty forms Hanging Man pattern, upside seems capped at 15,000 for Nifty
Mazhar Mohammad of Chartviewindia.in advised traders not to create fresh long side exposure and remain neutral. Sunil Shankar Matkar February 03, 2021 / 05:56 PM IST
The Nifty50, barring initial volatility, remained strong for the rest of the day and ended at record closing high on February 3, continuing Budget-driven uptrend for third straight session.
Banking & financials, auto, metals, IT and Pharma led the rally. The broader markets also joined the bull run with the Nifty Midcap and Smallcap 100 indices rising over 1 percent each.
The index formed candle which resembles Hanging Man kind of pattern on the daily charts, and continued its higher highs - higher lows formation of the last three sessions.
After The Bell: Sensex reclaims 50,000, what should investors do on Wednesday?
Traders & investors need to keep the last stop loss at 14100/48400. We need to be defensive as the market approaches previous highs and the focus should be on pharmaceuticals and FMCG stocks. February 02, 2021 / 05:23 PM IST
Bulls remained in control of D-Street for the second consecutive day in a row on February 2 pushing the S&P BSE Sensex above 50,000 while the Nifty50 also reclaimed 14700. Both indices witnessed profit-taking towards the close of the trade.
The S&P BSE Sensex rose 1197 points to 49,797 while the Nifty50 closed with gains of 366 points to 14,647. The NiftyBank hit a fresh record high of 34,652.
After The Bell: Investors wealth rises by over Rs 6 lakh crore, what should investors do after huge Budget Day rally?
Experts are of the view that the market entered the Budget day with caution but a pro-growth Budget and no new taxes fuelled a risk-on rally. February 01, 2021 / 05:42 PM IST
Finance Minister Nirmala Sitharaman delivered what she promised a Budget like never before . The Street responded with equal enthusiasm as the bulls pushed the S&P BSE Sensex higher by over 2,300 points, Nifty50 above 14,200 levels, and NiftyBank to a record high.
The market recorded the best Budget Day percentage gains in 2 decades.