India VIX fell down by 5.60 percent at 13.60 levels. On the options front, maximum Put open interest (OI) is intact at 10,500 followed by 10,000 strikes while maximum Call OI is placed at 10,800 followed by 11,000 strikes.
The Nifty index has a strong support near 10,500 levels but as long as the index holds below 10,550 there is a higher probability of the index testing lower support placed at 10,300-10,400 levels, suggest experts.
Investors are advised to stay cautious but if you are long the keep a stop below 10,550 levels. A slip below this level could see Nifty cracking by 1-2 percent, suggest experts.
A ‘Bearish Belt Hold’ pattern is formed when the opening price becomes the highest point of the trading day (intraday high) and the index declines throughout the trading day making up for the large body.
A High Wave kind of pattern is formed when there is a long upper shadow and a long lower shadow with a small body. The pattern is similar to a spinning top or a Doji kind of pattern but in the high wave, the shadows are longer and there is a small body.
A 'Shooting Star' pattern is formed when the index comes under selling pressure as traders start booking profits at higher levels.
The index which breached 10,800 levels on an intraday basis but managed to climb back and closed above 10,800 for the second consecutive day in a row.
Formation of a bullish candle negates the formation of a bearish candle formed in the previous trading session. Hence, investors are advised to stay cautious ahead of the Karnataka election outcome next week.
Formation of a Dark Cloud Cover after a bullish candle does not augur well for the bulls and investors should stay on sidelines till a clear trend emerges. A break above 10,785 could open fresh targets towards 10,900 while a break below 10,680 could push the index towards 10,600 levels.
The Nifty50 formed a bullish candle after forming a bearish candle on the daily candlestick charts on Tuesday. Investors are advised to remain neutral on markets and adopt a stock specific approach.
Investors are advised to tread with caution and trade with a trailing stop loss placed below 10,600 levels. A close below this level could extend the selling pressure, suggest experts.
The Nifty 50 finally negated formation of lower highs and lower lows formation on a daily scale which means buying was witnessed at lower levels.
Investors are advised to stay cautious as the weekly chart pattern suggests a pause in momentum at least for the time being.
Formation of a bearish candle after a Bearish Belt Hold does not augur well for the bulls but as long as Nifty trades above 10,600 levels, bulls have nothing to fear, suggest experts.
Formation of a Bearish Belt Hold pattern after a bullish candle does not augur well for the bulls, but as long as Nifty50 holds above 10,680-10,700 levels, the momentum should continue.
Formation of a strong bullish candle suggests that the momentum is strong and there is a higher possibility now for the index to hit levels closer to 10,900, suggest experts.
An Opening Marubozu candle represents extreme bullish behavior and is formed with a long white body that has an upper shadow but no lower shadow. Although in Friday’s price action Nifty50 has a small or insignificant lower shadow.
Midcap and smallcap indices rose over a percent each this past week, outperforming the headline index, and there are some stocks that investors can look at buying this week.
As market breadth is picking up, traders are advised to shift their focus on stock specific opportunities. On the index, a break below 10,500 could fuel selling pressure while a break out above 10,630 shall extend the rally.
Formation of a strong bull candle after a bearish candle suggests that bulls have taken over D-Street at least in the near term and as long as Nifty sustains above 10200 levels the bulls are likely to take the index towards 10350 levels.
Doji is more of an indecisive pattern where both bulls, as well as bears, fail to regain control. Formation of a Doji after a ‘Long White Day’, a Doji pattern signals nervousness on D-Street and we could see the index turning volatile on the expiry day as well.
The Nifty50 index made a strong bearish candle on the weekly charts and a small bearish candle on the daily charts on Friday.
The Nifty50 witnessed profit booking decline soon after it reclaimed 10200. The index has crucial support around 200-DEMA but one thing is clear that the current market structure closely resembles sell on rallies kind of markets.
The Nifty50 opened at 10,051 and rose to an intraday high of 10,155. It slipped to an intraday low of 10,049 before closing the day 30 points higher at 10,124.
The index which opened at 10,405 rose marginally to hit its intraday high of 10420 before bears took control. The selling pressure took the index to its intraday low of 10,346. The index closed 50 points lower at 10,360.