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Nifty Outlook for 21 February 2012 Last week, the Nifty rallied 183 points, surging over 3%. It posted gains for the seventh consecutive week. On daily charts, it ended in a candlestick pattern that resembles like a spinning top, which suggest indecision at the current level and buyers are losing momentum. Also, it is approaching [...]
Nifty Outlook for 14 February 2012 The Nifty started the week on a weak note and ended the day marginally higher at 5,390. For the sixth consecutive day, it consolidated in the range of 5,300 and 5,400. The Nifty held above the previous session’s low, suggesting bulls are not ready to succumb easily to bears. [...]
Nifty Outlook for 13 February 2012 The Nifty opened in the negative terrain and ended up 30.75 points or 0.57% at 5,381.60. On daily charts, we are witnessing a ‘Bearish Harami’ formation. The implication of the said pattern is that the rally is getting exhausted and is likely to reverse in the short-term. On weekly [...]
Nifty Outlook for 10 February 2012 The Nifty opened in the positive terrain in line with its global peers. It ended up 44 points or 0.82% at 5,412.35. The Nifty held above the previous session’s low, suggesting bulls are not ready to succumb easily to bears. Bias may remain positive, until it holds the previous [...]
Nifty Outlook for 09 February 2012 The Nifty opened in the positive terrain in line with the global peers. It ended up 33 points or 0.62% at 5,368.15. On daily charts, we are witnessing an ‘inside day’ formation. An inside day found near the end of a prolonged uptrend may suggest that the rally is [...]
Nifty Outlook for 08 February 2012 The Nifty snapped the five day winning streak and ended the day down 26.50 points or 0.49% at 5,335.15. Yesterday we stated that weakness below Monday’s low would confirm the pattern strength, followed by corrective move. The Nifty opened higher and held above the Monday’s low for the most [...]
Nifty Outlook for 07 February 2012 The Nifty opened with a gap up on the back of positive global cues. However, it pared half of the early gains to end the day 35.80 points, or 0.67%, higher at 5,361.65. On hourly charts, it ended in bearish engulfing candlestick formation. The implication of the said pattern [...]
Nifty Outlook for 06 February 2012 The Nifty ended higher for the fifth straight week. It ended the last day of the week 56 points, or 1.06%, higher at 5,325.85. On weekly charts, it ended in a bullish candlestick pattern above the downward sloping trend line. Any corrections during the week can be buying opportunity. [...]
Nifty Outlook for 02 February 2012 The Nifty opened marginally lower and tested an intraday low of 5,159 in the first half of the trade. However, it recouped early losses to end above its 200-day SMA at 5,235.70. Firm European cues, led index to close at their 12-week high on Wednesday. On daily charts, the Nifty [...]
Nifty Outlook for 31 January 2012 The Nifty snapped six-day gains to end 117.40 points, or 2.26%, lower at 5,087.30. After opening lower, it breached the low of the hanging man candlestick formation formed on Friday. We stated, if the Friday’s low of 5,162 is violated then it can correct up to 5,070 and 5,020. [...]
