Technical View: Nifty Forms Hammer Pattern, May Continue To Trade In A Range With Positive Bias moneycontrol.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from moneycontrol.com Daily Mail and Mail on Sunday newspapers.
After The Bell: Worst single-day fall in 7 months, here’s what should investors do on Tuesday
The fall erased the gains of the last 11 days. In fact, after the market formed a higher bottom at 12,790 on November 26, the market has never given any decisive candlestick pattern on daily basis. December 21, 2020 / 05:36 PM IST
Indian markets, which have been scaling new highs, crashed to their worst single-day fall in seven months, snapping a six-day winning streak on December 21. Both the Sensex and the Nifty50 plunged about 3 percent each, wiping out about Rs 7 lakh crore of Mcap on the BSE, weighed down by weak global cues.
Technical View: Nifty forms bullish candle on weekly charts, experts advise caution
Traders should exercise utmost caution and maintain a tight stop-loss below 13,650 levels on a closing basis and ride the upward momentum, Mazhar Mohammad of Chartviewindia.in has said. Sunil Shankar Matkar December 18, 2020 / 07:55 PM IST
The Nifty50 recovered around 100 points from the day s low to end at a record closing high on December 18 yet again and formed a Dragon Fly Doji pattern on the daily charts.
IT and pharma stocks provided strong support to the market but the selling in some banking & financials, auto and metals stocks capped the gains.
Technical View: Nifty forms Spinning Top pattern, continue with long side opportunities
Traders should look only for long-side opportunities until some strong reversal signs are visible, Mazhar Mohammad of Chartviewindia.in says. Sunil Shankar Matkar December 17, 2020 / 05:35 PM IST
The Nifty50 continued to trade higher after early volatility and closed at a new high again on December 17 as global cues remained positive on the US Fed s decision to keep rates unchanged and assurance of continued support.
The index closed above 13,700 and formed a small-bodied bullish candle that resembled a Spinning Top pattern on the daily charts. A Spinning Top is often regarded as a neutral pattern that suggests indecisiveness in the market. It can be formed in an uptrend as well as a downtrend.
After The Bell: Sensex inches towards 47,000, what should investors do on Friday?
The market has formed another indecisive candlestick at the top of the rally. The Nifty should trade between 13,840 and 13,600 levels. Sell Nifty if it bounces to 13,840-13,850 levels, say experts. December 17, 2020 / 05:38 PM IST
Indian markets closed in the green fifth day in a low on December 17 as the bulls pushed the benchmark indices to yet another record high as the S&P BSE Sensex hit 46,992 and the Nifty50 13,740.
The Sensex closed 223 points higher at 46,890, while the Nifty50, ended the day with gains of 58 points at 13,741.
Sectorally, action was seen in finance, capital goods, realty, while metals, oil & gas and utilities saw some profit-taking.