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Nifty Outlook for 22 February 2012 The Nifty closed above the psychological level of 5600. It ended higher 43 points or 0.77% at 5,607.15. On daily charts, it held above the prior session’s low and closed near the high of the spinning top, suggesting upward momentum may continue in the near-term. At current levels, index [...]
Nifty Outlook for 17 February 2012 The Nifty opened marginally lower and traded in a narrow range throughout the day. It ended lower 10 points or 0.18% at 5,521.95. On daily charts, it traded within previous session’s high/low range, suggesting consolidation after the prior session’s up move. The bias would remain positive until it holds [...]
Nifty Outlook for 16 February 2012 After opening higher, the Nifty continued to head higher, amid firm global cues. The Nifty regained the 5,500 mark for the first time since August 2011. On daily charts, after the seven days narrow range movement, it broke away the consolidation zone and closed in a bullish candlestick formation. [...]
Nifty Outlook for 15 February 2012 After opening in the negative terrain, the Nifty traded with a positive bias in a narrow range of 30 points throughout the day. It ended the day higher at 5,416, led by rate sensitive shares after India’s inflation for January 2012 fell to a 2-year low of 6.55%. On [...]
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 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 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. [...]
