Nifty likely to gear up if Bank Nifty holds

During the last week’s trading, Nifty has lost about 1.05% but whereas Bank Nifty has gained 1.90%. The most of the gains came from Private sector bank’s contribution after the spectacular performance by ICICI Bank’s over 8 rally on April 28. The private sector banks have manage to sustain the gain the last part of the week. … Read more…

Is more downside left for Nifty? Probably 8050?

Nifty showing downtrend in the Heikin Ashi chart.

The recent day’s sharp downfall is indicating that the end is not near. Friday Nifty has created negative candle (with no head) in the Heikin Ashi chart after the indecisive candle in Heikin Ashi’s chart on Thursday. The Relative Strength Indicator is also not showing the oversold signal yet. The D- in the Average Directional … Read more…