Price set up at current juncture suggests that index may remain volatile as after the recovery of 500 points from recent swings lows, it is again finding hurdles at key resistance area, Taparia said
Option band signifies a broader trading band between 10,450 to 10,700 zones.
India VIX moved up by 1.06 percent to 18.82 levels. Now VIX has to cool down below 17.50-17 zones to get the pace of buying interest in the market.
Harami is a reversal candlestick Pattern and consists of two candlesticks. The first candle is usually long and the second candle has a small body. The second candle is generally opposite in colour to the first candle
The MACD indicator is one of the most popular tool in technical analysis because it gives traders the ability to quickly and easily identify the short-term trend.
India VIX fell sharply by 9.34 percent to 18.62 levels. Topping out formation of VIX suggests that some rescue could be seen in the market, experts said.
Spurt in VIX from previous day's low suggests that bears are not loosening their grip and bounce are being sold in the market.
If the 50-share NSE Nifty index sustains above 10,300 levels then it can cross 10,700 levels followed by 10,850 levels, the critical hurdle, experts said.
India VIX fell by 1.93 percent to 19.75 levels. Overall higher volatility suggests a bear grip but a cool off in VIX with a topping out formation could form a short term bottom in the market.
Manav Chopra of Indiabulls Ventures expects Nifty to revert towards critical moving averages that are placed around 10,700-10,800 levels (200-DEMA placed around 10,779).
Chandan Taparia of Motilal Oswal Financial Services said till the Nifty doesn't surpass its immediate hurdle, the overall weak structure could continue to push the indices lower, while limiting the market upside
The piercing pattern is a bullish trend reversal or bottom reversal pattern that appears towards the end of a downtrend
Stochastic oscillator works best when used with other indicators, chart patterns, and volume and price movement.
India VIX surged by around 16 percent in this week and has been moving upwards from last three consecutive weeks.
India VIX moved up by 8.05 percent at 19.58 levels. Volatility is not cooling down which is not giving the relief to bulls and suggests a tight bear grip in the market.
The Nifty closed sharply lower and formed strong bearish candle. If it doesn't stabilise around its 200-day EMA of 10,785 levels then more selling pressure is likely, experts said.
The sentiment continued to be weakened and if that worsens further then it could also break its recent panic low levels, experts said.
Higher VIX suggests volatile swing are likely to continue in the market and option band signifies a wider trading range in between 10,850 to 11,171 zones, experts said.
In a perfect piercing pattern, opening will be below previous day’s closing price and the close will be above the mid-point of previous sessions candle body but Tuesday’s opening was almost close to Monday’s closing price.
The 50-share NSE index lost 793 points or 6.7 percent from its record high of 11,760 seen on August 28.
Sumeet Bagadia of Choice Broking feels investors should remain stock-specific rather than sector-specific and invest only in attractively priced fundamentally strong mid- and smallcap stocks
Chandan Taparia of Motilal Oswal Financial Services feels traders may face mark-to-market burden if the market doesn't see a recovery
Hanging Man and the Hammer candles looks quite similar but these two candlesticks are differentiated by the prior move or short term trend
An exponential moving average is a moving average for time-series data which places greater weight on more recent data. It is also called as price-weighted moving average for the price of a stock or an index for a given period of time.
The Nifty50 managed to recoup 2/3rd of losses in last hour of trade to close 91.30 points lower at 11,143.10.