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market outlook

Tech View: Nifty forms red candle on daily chart, suggesting weakness. What traders should do on Friday

by Mark McDuffie
Tech View: Nifty forms red candle on daily chart, suggesting weakness. What traders should do on Friday

Indian headline indices closed in the red on Thursday, registering their second successive decline. They were dragged by IT, FMCG and bank stocks. While Nifty finished at 24,205.35, going down …

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Tech view: Nifty forms small red candle, faces strong resistance at 100 DEMA. How to trade tomorrow

by Mark McDuffie
Tech view: Nifty forms small red candle, faces strong resistance at 100 DEMA. How to trade tomorrow

Nifty closed lower on Wednesday after a two-day gain. A sell-off in the later half of the session erased the morning gains as the star performers of the previous two …

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Tech View: Nifty indicators give positive signals, likely to face resistance at 24,694. How to trade tomorrow

by Mark McDuffie
Tech View: Nifty indicators give positive signals, likely to face resistance at 24,694. How to trade tomorrow

The Nifty gained 128 points on Tuesday to close at 24,467. It started on a weak note, but bounced back sharply from around the support zone of 24,150-200 and remained …

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Tech View: Minor pullback rally likely in Nifty, crucial resistance at 24,750. How to trade on Monday

by Mark McDuffie
Tech View: Minor pullback rally likely in Nifty, crucial resistance at 24,750. How to trade on Monday

The Nifty formed a long bearish candle on the weekly chart on Friday. Technically, this suggests that the markets are likely to remain under pressure in the near term. However, …

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Tech View: Nifty’s drop below 24,350 could trigger a slide to 24K in near term. How to trade tomorrow

by Mark McDuffie
Tech View: Nifty’s drop below 24,350 could trigger a slide to 24K in near term. How to trade tomorrow

A small positive candle was formed on the daily chart on Wednesday with an upper shadow. Technically, this formation indicates a type of bullish inverted hammer-type candle pattern, not a …

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Tech view: Nifty crucial support at 24,690, forms big red candle. How to trade tomorrow

by Mark McDuffie
Tech view: Nifty crucial support at 24,690, forms big red candle. How to trade tomorrow

On the daily chart on Thursday, Nifty formed a big red candle, indicating weakness. However, the index is approaching the previous demand zone of 24,690. If Nifty sustains below 24,690 …

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Tech View: Nifty targets upside breakout, resistance at 25,500-25,600 levels. How to trade tomorrow

by Mark McDuffie
Tech View: Nifty targets upside breakout, resistance at 25,500-25,600 levels. How to trade tomorrow

A long bull candle was formed on Nifty’s daily chart, which indicates an attempt of an upside breakout of smaller range movement. Having moved within a broader high-low range of …

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Tech View: Nifty breaks below 50 DEMA, forms bear candle. How to trade on Monday

by Mark McDuffie
Tech View: Nifty breaks below 50 DEMA, forms bear candle. How to trade on Monday

The Nifty witnessed an extremely volatile day of trade on Friday, witnessing sharp swings in both directions and closed in the red, merely sustaining above the 25k mark, but dropping …

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Tech view: Nifty signals indecision, forms small candle. How to trade on Thursday

by Mark McDuffie
Tech view: Nifty signals indecision, forms small candle. How to trade on Thursday

After showing a sharp weakness on Monday, Nifty consolidated on Tuesday with a range movement and closed the day lower by 13 points. After opening on a positive note, the …

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Tech view: Nifty closes below 25,900, forms long bear candle. How to trade tomorrow

by Mark McDuffie
Tech view: Nifty closes below 25,900, forms long bear candle. How to trade tomorrow

After showing a sustainable up move in the last few weeks, Nifty witnessed sharp profit booking on Monday and closed the day lower by 368 points. After opening with a …

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