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Technical View: Nifty Forms Bullish Candle On Weekly Chart, Needs To Hold 14K Next Week


Technical View: Nifty forms bullish candle on weekly chart, needs to hold 14K next week
Traders should remain neutral on the long side of the index, whereas intraday traders can consider shorting below 13,990 for a modest target of around 13,880 levels.
Sunil Shankar Matkar
January 01, 2021 / 05:04 PM IST
The new year saw the Nifty50 scaling a new peak as it closed above the psychologically important 14,000-mark on January 1, led by select auto, FMCG, IT and pharma stocks.
The index formed a small bullish candle that resemblef a Doji pattern on the daily charts, as the closing was near its opening levels. For the week, the index gained 2 percent and formed a bullish candle on the weekly scale. ....

Mazhar Mohammad , Chandan Taparia , Ashok Leyland , Exide Industries , Bharat Electronics , Technical Research Trading Advisory , Derivatives At Motilal Oswal Financial Services , Bank Nifty , Lt Finance Holdings , Kotak Mahindra Bank , Chief Strategist , Technical Research , Trading Advisory , Inside Bar , Vice President , Motilal Oswal Financial Services , Cholamandalam Investment , Adani Ports , Tata Consumer , மழற் முகமது , சந்தன் தபரியா , அசோக் லேலண்ட் , வெளியேறு தொழில்கள் , பாரத் மின்னணுவியல் , வழித்தோன்றல்கள் இல் மோட்டிலால் ஒசுவள் நிதி சேவைகள் , வங்கி நிஃப்டி ,

market analysis: F&O: Higher lows for Nifty, cooling VIX support the bull case for Nifty


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Nifty opened positive on Friday and remained consolidative in a 50-point range, but showed strength to hold above the 14,000 mark. The index started the new F&O series and the new decade on a positive note, as it moved up steadily throughout the session to scale a new record lifetime high of 14,049.
Nifty continued its winning streak and formed higher lows for seven sessions. Now, it has to hold above 13,850 level to witness a fresh rally towards 14,200 and then 14,500 marks, while major support on the downside exists at 13,777 and 13,700 levels.
India VIX fell 7.30% from 21.09 to 19.56 levels. A cool-off in volatility below 20 level supports the bullish market setup and fuels the bulls with a higher market base. ....

India General , Bank Nifty , Kotak Bank , Ashok Leyland , Inside Bar , Chola Finance , Adani Ports , Tata Consumer , Exide India , இந்தியா ஜநரல் , வங்கி நிஃப்டி , கோட்டக் வங்கி , அசோக் லேலண்ட் , உள்ளே மதுக்கூடம் , சோழர் நிதி , அதானி போர்ட்ஸ் , டாடா நுகர்வோர் , வெளியேறு இந்தியா ,