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Showing posts with label nifty tips. Show all posts
Showing posts with label nifty tips. Show all posts
Monday, May 18, 2020
Tuesday, May 12, 2020
NIFTY OUTLOOK & OPTION CALL PUT TIPS FOR 13 MAY 2020
Bulls shown good
strength before closing Tuesday session, indices staged a sharp recovery after
buying in the second half and the Nifty closed just below 9,200-level. The
Sensex fell 190 points to 31371 while the Nifty was down 42 points at 9196 at
close. Fast rising Covid-19 cases in India and the second wave of infections in
multiple countries, including Wuhan in China, gave stock market bears enough
ammunition to push benchmark indices lower on Tuesday. Weak global market mood
also weighed on the market sentiment back home.
Friday, May 8, 2020
NIFTY WEEKLY REPORT & VIEW FOR NEXT WEEK 11 MAY TO 15 MAY 2020
WEEKLY RESISTANCE FOR NIFTY: 9500, 10000,10500
DAILY RESISTANCE FOR NIFTY: 9500, 9700, 10000
Our markets started
the new trading week with a massive gap down of 400 points. In fact, the
selling momentum continued throughout the remaining part of the day to
eventually conclude tad below the 9300 mark by shedding more than 550 points. Monday’s
massive cut was followed by a good bump up at the Tuesday opening; courtesy to
some relief move in global peers. This was followed by some consolidation in
the first half as index kept flirting slightly above Monday’s close. However,
in the latter half, the selling momentum aggravated across the board and as a
result, the Nifty not only pare down all gains but also went on to close with a
cut of nearly a percent. After two days’ of pain, we started marginally in the
green on Wednesday. But it was merely a formality as we saw index taking a
nosedive in initial trades. At one point, things looked extremely bleak as we
hastened towards 9100 within a blink of an eye. Fortunately, a strong buying at
lower levels lifted markets higher. During the second half, there were some
wild swings seen on both sides but the bias remained positive and as a result,
Nifty concluded well above the 9200 mark. Thursday morning, our markets opened
flat and then immediately fell in-line with SGX Nifty. During the initial hour,
we saw some marginal recovery, but this rebound immediately got sold into.
During the remaining part, the Nifty consolidated in a slender range to
conclude the weekly expiry precisely at 9200.Indian domestic market ended in green on Friday after erasing most of the morning gains. sensex ended 200 points higher & nifty ended the week near 9250 mark.
PIVOT POINT: 9000
WEEKLY SUPPORT FOR NIFTY: 8800, 8500, 8000
WEEKLY CHART FOR NIFTY
WEEKLY CHART FOR NIFTY
DAILY RESISTANCE FOR NIFTY: 9500, 9700, 10000
PIVOT POINT: 9100
DAILY SUPPORT FOR NIFTY: 8800, 8600, 8400
DAILY CHART FOR NIFTY
NIFTY: A STRONG SUPPORT WILL BE @ 8500;
STRONG RESISTANCE LEVEL SEEN @10000
Thursday, April 16, 2020
NIFTY OUTLOOK & OPTION CALL PUT TIPS FOR 17 APRIL 2020
After a bearish opening
on back of global cues, the market bounced back and gave a strong recovery. Moreover,
most of the time of the first half, the index traded in a range bound move,
though after giving a breakout of the same, nifty made a high near 9090 level.
During the trading session, we saw a good move in Banknifty compared to Nifty
and settled with the gain of 2.3%. At present level, the nifty have a good
support at 8800 while upside resistance comes at 9100, if the Index sustains
above 9100 then we may see an upside movement up to the level of 9300.
Tuesday, April 14, 2020
NIFTY OUTLOOK & OPTION CALL PUT TIPS FOR 15 APRIL 2020
Nifty opened the week on a flat note on Monday April 13, 2020, but started correcting from first trade. It fell around 200 points within first hour of trade and then remained in sideways direction for the remaining part of the session. Despite the negative close, market breadth remains marginally in favor of the advancing counters. Nifty failed to hold 9000, & investors eyed PM Narendra Modi addressed on lockdown on 14 April 2020 at 10.00 AM & as expected prime minister declared that lockdown to be extended till 3 may 2020 as the Covid 19 cases are increasing in country. Nifty rallied almost 20% to hit 9000 mark on 13 april 2020. The Sensex ended 469 points lower at 30690, while Nifty was down 118 points at 8993. The market is shut today April 14 on account of Dr Babasaheb Ambedkar Jayanti.
Friday, April 10, 2020
NIFTY WEEKLY OUTLOOK & OPTION CALL PUT TIPS FOR 13 APRIL TO 17 APRIL 2020
FOR TARGET UPDATE CONTACT ON WHATSAPP 9039542248
WEEKLY RESISTANCE FOR NIFTY: 9200, 9500,9700
DAILY RESISTANCE FOR NIFTY: 9100, 9200, 9300
PIVOT POINT: 8950
WEEKLY RESISTANCE FOR NIFTY: 9200, 9500,9700
PIVOT POINT: 9000
WEEKLY SUPPORT FOR NIFTY: 8700, 8500, 8300
WEEKLY CHART FOR NIFTY
DAILY RESISTANCE FOR NIFTY: 9100, 9200, 9300
PIVOT POINT: 8950
DAILY SUPPORT FOR NIFTY: 7900, 7800, 7700
DAILY CHART FOR NIFTY
Nifty and Sensex
snapped a seven-week losing streak, jumping about 13% in three sessions to
Thursday. The indices recorded their best week since May 2009 and closed at
three-week highs. As Monday market was closed on accounts of
Mahavir jayanti , trading for the week started from Tuesday. Tuesday 7 April
2020 belongs to bulls. Before closing the market nifty hits the upper
circuit. Market is largely being driven by developments on the
coronavirus front. A sustainable recovery would happen only when the cases
start to recede in India and lockdown is eased gradually. Due to weak global cues
market indices shown weakness in the last `hours of trading session in
Wednesday, after some respite in Tuesday & Wednesday’s morning session. The
Sensex traded above 29800 levels, with a cut of over 200 points while the Nifty
was back below the 8750 level after surging as high as 9131 earlier iin the
session. The Sensex ended 170 points lower at 29893 while Nifty
slipped to 8748. Banknifty
slipped 116 points to 18946. Friday market is closed on accounts of Good Friday.DAILY CHART FOR NIFTY
Monday, April 6, 2020
NIFTY OUTLOOK & OPTION CALL PUT TIPS FOR 7 APRIL 2020
With negative closing on the mast week ended Friday, the market fell for seven consecutive weeks for the first
time since June 2008. The Sensex and Nifty have cracked 33% each in the last
seven weeks. The Sensex crashed nearly
700 points on Friday, led by losses in banking stocks, as investor sentiment
remained jittery amid concerns over the COVID-19 pandemic and its economic
impact. After hitting a low of 27500 during the day, sensex ended 674 points,
lower at 27590. Similarly, the Nifty 50 settled below the 8100-mark at 8083,
down 170 points. Despite day to day volatility, the Nifty has witnessed a
parabolic sharp downside if we look at the weekly charts. Presently, the weekly
charts are deeply oversold and despite the tentative trade setup, a technical
pull back can be positively expected. If the immediate intraday low is held,
the chances of a technical pullback would increase even if there is no
confirmation of any temporary base in place.
Friday, April 3, 2020
NIFTY "WHEN IN DOUBT WEAR RED"
Continuing downward
trend, the market settled with over 2 % loss on Friday as coronavirus (Covid-19) cases showed no signs of abating. Global confirmed
cases surpassed 1 million on Thursday with more than 52000 deaths. Back home,
an ongoing 21- day lockdown has already brought the economy to a standstill.
The Sensex ended at 27591, down 674 points, while the Nifty index ended at 8084,
down 170 points.
Thursday, April 2, 2020
WHAT IS VOLATILITY INDEX IN OPTION TRADING?
TO GET LIVE MARKET OPTION CALL PUT TIPS FILL THE FROM GIVEN HERE>>>>>
We are making an attempt to explain VIX ,so that one can read and get the
subject knowledge which would help one to trade in nifty accordingly.
What is Volatility exactly? Volatility is just
a statistical term to measure the tendency of the market to fluctuate. Big
fluctuations suggest fear, because they mean that investors are frantically
changing their minds about what stocks are worth, in the face of great
uncertainty. Smaller fluctuations suggest that investors are confident and they
know what the stocks are worth.
Volatility Index: VIX
is a measure of market's expectation of volatility over the near term. In
simple words, Volatility Index (calculated as annualized volatility, denoted in
percentage e.g. 20%) is a measure of the amount by which an underlying Index is
expected to fluctuate based on the order book of the underlying index options.
VIX is the ticker symbol for the Chicago Board Options Exchange
Volatility Index, a popular measure of the implied volatility of S&P 500
index options. It is commonly called the VIX, and is often referred to as the
"fear index."
India VIX is a volatility index based on the Nifty 50 Index Option
prices. From the best bid-ask prices of Nifty 50 Options contracts, a
volatility figure (%) is calculated which indicates the expected market
volatility over the next 30 calendar days. i.e. higher the India VIX values, higher
is the expected volatility and vice-versa.
INDIA VIX:
Specifications: India
VIX is a volatility index based on the Nifty 50 Index Option prices. From the
best bid ask prices of near term Nifty 50 Options contracts (which are traded
on the F&O segment of NSE), a volatility figure (%) is calculated which
indicates the expected market volatility over the next 30 calendar days.
Calculation: Higher
the implied volatility higher the India VIX value and vice versa. There are
some differences between a price index, such as the Nifty 50 and India VIX.
Nifty 50 is calculated based on the price movement of the underlying 50 stocks
which comprises the index. India VIX is calculated based on the bid-offer
prices of the near and mid month Nifty 50 Index Options. Nifty 50 Index is an
absolute number, e.g. 4500, 5000 etc., whereas India VIX is a percentage value
(e.g. 20%, 30% etc.). The factors which will be taken into account to calculate
the index include the following:
1) Time to expiry of the options contracts of Nifty that are selected to
calculate the index.
2) Interest rate: The NSE MIBOR rate is being considered as risk-free interest
rate for the respective expiry months of the NIFTY option contracts.
3) A methodology called the forward index level is being used to select the
contracts which will be used to calculate the index.
4) From these selected contracts, the best bid and ask spreads will be chosen.
5) Weightage is given to each of the options contracts that are chosen, as per
the method adopted by the Chicago Board of options exchange (CBOE). The
weightage of a single options contract is directly proportional to the average
of best bid-ask spread of that option contract and inversely proportional to
the option contract's strike price.
Significance: Whereas Nifty 50
signifies how the markets have moved directionally, India VIX indicates the
expected near term volatility and how the volatility is changing from time to
time. India VIX is a premier barometer of investor consensus of market
volatility expressed through option pricing. VIX is a trademark of CBOE
Incorporated and Standard and Poor's has given license to NSE, with permission
from CBOE, to use this trademark in the name of India VIX and for purposes
relating to India VIX.
INTERPRETATION:
The exact number given by VIX is what a statistician would call
the "forecasted annualized standard deviation of returns." But don't
let that mouthful put you off - it's actually quite simple. A VIX reading of 50
means that options prices are suggesting that, over the next year, stock prices
are expected to fluctuate within a range of plus or minus 50%. A VIX reading of
20 would mean expectations that the market will fluctuate less, staying within
a range of plus or minus 20%.
In most cases, a high VIX reflects increased investor fear or
uncertainty and a low VIX suggests complacency or less stressful times.
Historically, this pattern in the relationship between the VIX and the behavior
of the stock market has repeated itself in bull and bear cycles. During periods
of market turmoil, the VIX spikes higher, largely reflecting the panic demand
for puts as the hedge against further decline in stock portfolios. During
bullish periods there is less fear and therefore less need for portfolio
managers to purchase puts.
By measuring investor fear levels tick by tick and day by day,
the VIX, like many emotional gauges (e.g. put/call ratio), can be used as a
contrary opinion tool in attempting to pinpoint market tops and bottoms on a
medium-term basis. There are two ways to use the VIX in this manner. The first
is to look at the actual level of the VIX to determine its stock-market
implications. Another approach involves looking at ratio comparing the current
level to the long-term moving average of the VIX.
BOTTOM- LINE:
The VIX is a contrarian
indicator that not only helps investors look for tops, bottoms and lulls in the
trend but allows them to get an idea of large market players' sentiment. This
is not only helpful when preparing for trend changes but also when investors
are determining which option hedging strategy is best for their portfolio. A
point to remember is that, even though bench-marking the past is a solid way to
determine the future, nothing is set in stone.
1) Time to expiry of the options contracts of Nifty that are selected to calculate the index.
2) Interest rate: The NSE MIBOR rate is being considered as risk-free interest rate for the respective expiry months of the NIFTY option contracts.
3) A methodology called the forward index level is being used to select the contracts which will be used to calculate the index.
4) From these selected contracts, the best bid and ask spreads will be chosen.
5) Weightage is given to each of the options contracts that are chosen, as per the method adopted by the Chicago Board of options exchange (CBOE). The weightage of a single options contract is directly proportional to the average of best bid-ask spread of that option contract and inversely proportional to the option contract's strike price.
Significance: Whereas Nifty 50 signifies how the markets have moved directionally, India VIX indicates the expected near term volatility and how the volatility is changing from time to time. India VIX is a premier barometer of investor consensus of market volatility expressed through option pricing. VIX is a trademark of CBOE Incorporated and Standard and Poor's has given license to NSE, with permission from CBOE, to use this trademark in the name of India VIX and for purposes relating to India VIX.
Wednesday, April 1, 2020
NIFTY OUTLOOK & OPTION CALL PUT TIPS FOR 3 APRIL 2020
The see-saw battle
between the bears and the bulls continued on Dalal Street with the former
dominating Wednesday’s session amid a rise in coronavirus cases in India.
Worries surrounding a sharp drop in GDP growth rate also hit investor sentiment
on Dalal Street. India has reported a sharp rise in new coronavirus
cases in the last couple of days, indicating a community transmission. The
country has reported nearly 1,400 confirmed cases of Covid-19 including 35
deaths and 123 discharged patients. The Sensex tanked 1203 points to
28265 & Nifty dropped 344 points to 8254.
Tuesday, March 31, 2020
NIFTY OUTLOOK & OPTION CALL PUT TIPS FOR 1 APRIL 2020
It was a day for bulls.
Stock market bulls marched on Dalal Street with heads held high on the last
trading day of fiscal year FY20 as relatively better factory output data from
China supported the investor sentiment. Some support also came from the report that
the government has put off implementation of the uniform stamp duty on transfer
of capital market instruments to July 1, 2020. sensex today closed 1028 points
higher at 29468, while Nifty rose 316
points to close at 8597.
Monday, March 30, 2020
MANIC MONDAY NIFTY BELOW 8300 MARK
Market indices were not having a good start of the week. Sensex tanks
over 1000 points to close at 28440 &
Nifty gone below 8300-mark to close the day at 8281. bears ran riot with
coronavirus cases rising in India and abroad, taking lives and forcing
businesses to shut down. Along with that a ceaseless dumping of stocks by the
foreign investors is also weighing on investor sentiments.
Friday, March 27, 2020
NIFTY WEEKLY OUTLOOK & OPTION CALL PUT TIPS FOR 30 MARCH 3 APRIL TO 2020
WEEKLY RESISTANCE FOR NIFTY: 9200, 9500,10000
PIVOT POINT: 8500
DAILY RESISTANCE FOR NIFTY: 8900, 9000, 9100
PIVOT POINT: 8550
PIVOT POINT: 8500
WEEKLY SUPPORT FOR NIFTY: 8300, 8100, 7800
WEEKLY CHART FOR NIFTY
DAILY RESISTANCE FOR NIFTY: 8900, 9000, 9100
PIVOT POINT: 8550
DAILY SUPPORT FOR NIFTY: 8300, 8200, 8100
DAILY CHART FOR NIFTY
This is
clearly one of the worst phases the whole world is undergoing at present. Not
only in terms of financials or economies but also in terms of health crisis.
This uncertainty due to coronavirus pandemic is weighing down heavily on
markets across the globe and it was yet another day of carnage for Indian
markets. We opened the week significantly lower and after initial trades locked
into a lower circuit for the second time in last 7 sessions. Unlike the
previous circuit day, yesterday we didn’t even see a mild recovery; in fact the
selling augmented to conclude yet another terrible day with a cut of 13%. Worldwide
the trading screen was positive early in the morning on Tuesday after US FED announced some measures to
support the US economy in such difficult times. Hence, we had a good bump up at
the opening after Monday’s mayhem. But surprisingly, we lost all the sheen in
initial trades to slide tad below Monday’s low. Finally after an hour, market
stabilised and started moving. Despite US markets posting a colossal overnight
rally, we started the wednesday marginally in the red, which was mainly a
hangover of PM Modi’s announcement on country lockdown for 21 days. After
initial hiccups, we finally joined hands with our global peers and a strong
buying across the board thereafter pushed Nifty significantly higher to reclaim
the 8300 mark. Wednesday’s colossal rally was followed by a positive start for
the thursday, despite some sluggishness in the global peers. After some initial
consolidation, our markets picked up strong momentum to post positive close for
the third consecutive day. Despite some intraday declines, the Nifty managed to
add yet another three percent gains to Wednesday’s relief move and concluded
the terrifying March series with nearly 15% recovery from lows.
NIFTY:
A STRONG SUPPORT WILL BE @ 9500; STRONG RESISTANCE LEVEL SEEN @7500
Let see
how things shape up on the global front now. If we see the relief move getting
extended in global markets, we would see some extension of this week move in our
markets. For the coming session, 8000-7500 remains to be a key support; whereas
on the higher side, 9000-9500 is the level to watch out for. If Nifty has to
continue some relief move, the Nifty needs to surpass this hurdle convincingly
to head towards 10000.
TECHNICALLY
SPEAKING.
Since Tuesday
morning, almost all world markets were looking jubilant and despite we closing
in the green, the reaction from our markets is not as similar as the rest of
the world. Nevertheless, we have managed to defend 7500 and have shown some
signs of relief on tuesday. markets are hinting towards a possible rebound and
it was very much overdue also after recent relentless fall. All markets across
the globe were deeply oversold and hence, a decent bounce back was on cards.
For the day, we were observing 8000 as a crucial hurdle. The moment index
surpassed and stayed for few minutes, we saw strong bout of short covering
thereafter to head towards the mentioned zone of 8200 - 8400. Now market has
given the most awaited rebound, but traders should not get carried away by
this. It may extend further also, but the uncertainty with respect to
coronavirus is still looming over. Till the time it does not subside
considerably, we should avoid aggressive bets in the market. At present, it’s
advisable to take one step at a time and momentum traders should look to book
profits on a regular basis. Nifty precisely met the levels of 8200-8400-8600
one after another. Now technically speaking, the Nifty has displayed first sign
of strength i.e. a convincing close above ‘5 day EMA’ after a month. In
addition, the ‘RSI-Smoothened’ on daily chart has confirmed a positive crossover
in deep oversold territory. Considering all this, we may see this up move
getting extended from hereon. Going by technical observations if Nifty manages
to stay beyond 8700- 8800 levels then we may see extension of the rally towards
9500-10000. Obviously we need not forget that current situation is different
due to pandemic across the globe and hence, a possibility of whipsaws cannot be
rules out. If above mentioned technical set up has to work well, things with
respect to coronavirus should not aggravate in coming days.
Tuesday, March 24, 2020
NIFTY OUTLOOK BEFORE THE EXPIRY MARCH 25,2020
A relief
day for the market participant nifty settled the day above 7800 mark. A volatile
trading session ended on marginally positive note, but failed to retain the
sharp recovery of morning session despite Finance Minister Nirmala Sitharaman
announced several relief measures for the industry and ended in the green.
Monday, March 23, 2020
LOWER CIRCUIT ; SENSEX BELOW 27000 NIFTY AT 7900
The market was down 2,740 points, or 9.24 at 27140 levels. The index plunged to as low as 27197 level in opening deals before bouncing back slightly. The Nifty index fell below the 8000-mark, down 790 points, or 9.04%.
Indian equity markets resumed sell-off on Monday, in line with their Asian peers, as the governments the world over struggle to contain the fast spreading novel coronavirus (COVID-19). In India, various state governments announced lockdown in nearly 80 districts across the country as the total number of confirmed Covid-19 cases inched towards 400.
Thursday, March 19, 2020
NIFTY BELOW 9000 MARK; MARKET OUTLOOK FOR 20 MARCH 2020
BUY NIFTY 7400 PUT 26 MARCH 190 TGT 250/320
Nifty continue to bleed
in Thursday’s session as well due to worries over a case of community spread of
the virus, investors fear further impact from Covid-19 and are preferring cash
instead of investments. The Sensex closed the day at 28288 levels, down 581
points. Nifty ended at 8263, down 205 points.
Monday, March 16, 2020
NIFTY NEAR 9000 MARK; MARKET OUTLOOK FOR 17 MARCH 2020
Coronavirus impact continues on the market. Market closed near 8% down as moves by central banks across the globe to cut interest rates failed to calm nerves due to coronavirus pandemic on the global economy. The US Federal Reserve slashed interest rates in its second emergency move this month, while its major peers offered cheap US dollars in a bid to prevent global lending markets from collapsing. Reserve Bank of India governor is scheduled to hold a press conference later in the day with many market participants expecting a rate cut. Nifty closed down 7.61% at 9197 while the Sensex settled 7.96% lower at 31390.
Monday, March 9, 2020
Friday, February 14, 2020
NIFTY WEEKLY OUTLOOK & OPTION CALL PUT TIPS FOR 17 FEB TO 21 FEB 2020
GET CALLS LIVE ON WHATSAPP PING ON
9039542248 FOR DETAILS
WEEKLY RESISTANCE FOR NIFTY: 12200, 12300, 12400
PIVOT POINT: 12100
WEEKLY SUPPORT FOR NIFTY: 12000, 11900, 11800
WEEKLY CHART FOR NIFTY
DAILY RESISTANCE FOR NIFTY: 12150, 12200, 12250
PIVOT POINT: 12110
DAILY SUPPORT FOR NIFTY: 12075, 12035, 12000
DAILY CHART FOR NIFTY
Nifty
Started the week on negative note. Sensex falls 162 points. Nifty50 remained in
the negative terrain for the second consecutive session on February 10 as
fast-spreading China's coronavirus raised fears over global growth. The index
managed to defend 12,000-mark, but closed below 50-day exponential moving
average (which placed around 12,054) and formed a bearish candle on charts as
closing was far lower than the opening price.On Tuesday Bulls staged a smart comeback after 2 days of resting. Positive
outlook by the principal economic adviser also aided domestic sentiment.
There have been some encouraging signs with respect to the spread of
coronavirus as news reports suggested that the epidemic could plateau in the
next few weeks. However, it continues to remain one of the key monitorable for
global markets, including India. On the domestic front, the last leg of
earnings announcement would induce stock-specific volatility. Further, key
macroeconomic data like CPI, IIP and WPI would also be actively tracked by the
investors and traders. The Sensex snapped 2-day losing spree & went up by
237 points at 41216 & Nifty reclaims 12100 up by 76. Though the market
movements would be linked to global market sentiment in the short run, the
ultimate direction would be decided by domestic earnings. On Wednesday Bulls
come back strongly and pushed above 12200 mark tracking gains in Asian markets,
on hopes that the worst of the coronavirus in China may have passed. Positive
commentary from the government and some encouraging data from Reserve Bank of
India also helped the market sentiments to get raised. The Sensex rose 350
points to close at 41566, while Nifty climbed 93 points to settle at 12201. On Thursday Bulls looked
little scared as investors reassessed the scope of the coronavirus outbreak after
China's Hubei reported a record rise in the death toll. A Surprise drop in
industrial output for December and a rise in January inflation to a six-year
high also dampened the sentiment. The Sensex dipped 106 points, to 41460
levels. The Nifty gave up the 12200 mark to settle at 12175, down 27 points. Indian indices were trading
at day's low in final hour of Friday's session as banks and telecom stocks
remained under pressure after the Supreme Court rejected the plea seeking
new schedule of AGR payments and ordered contempt proceedings against Bharti Airtel
and Vodafone Idea. The Sensex was trading 230 points lower at 41230
levels. The Nifty hovered around the 12100 levels, down 67 points & finally
closed the week at 12113.
NIFTY:
A STRONG SUPPORT WILL BE @ 12000; STRONG RESISTANCE LEVEL SEEN @12300
Wednesday, September 18, 2019
NIFTY PREDICTION & FREE OPTION CALL PUT TIPS FOR 19 SEP 2019
TO GET SUCH CALLS LIVE JOIN US NOW WHATSAPP 9039542248 OR FILL UP THE FORM GIVEN HERE>>>>
A roller
coaster ride of bulls & bears ended on moderately positive note. After
opening sharply higher, traders waited for the outcome of the two-day Federal
Reserve committee meeting later in the day. The index snapped two-day
fall and maintained 10800 levels, forming a bearish candle on intraday basis as
the closing price was lower than the opening price. If we compare the September
18 closing with that of the previous day then it forms a bullish candle. The
chart pattern is also known as the inside bar candle on the daily scale.
After opening higher at 10872, the Nifty traded within a range of 10804 -10885.
It closed 23 points higher at 10840.
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