On a weekly basis Nifty has closed with 15 points down. In the weekly candlestick chart, Nifty has formed long shadow with thin body doji. Typically doji means the indecisiveness in the direction. Doji in the bottom can be seen as trend reversal. It has high posibility that current down trend may reverse.Read more
During the recent rally all Nifty Bank shares turned positive except Punjab National Bank & Canara Bank. As of December 14th, all the twelve shares were trading bearish. Yes Bank is topping the list with 6.07% followed by Federal Bank & ICICI Bank with 5.81% and 5.16 percentage gain respectively. On the bottom of the table, Punjab National Bank is down by 2.73% and it is currently trading near its 52 weeks low.Read more
Nifty 50 is currently trading just less than a percentage away from making new 52 weeks now. Nifty 50 dropped to their lowest closing levels in three months, continue to make lower lows for the second straight week on concerns over delay of the Goods and Services Tax (GST) and falling oil prices. The Fed is expected to lift its target fed funds rate off of zero, ending a seven-year era of historic low.Read more
The December series got off to a strong start even as global markets were treading negative. The Nifty re-conquered the 7900 mark, marking a two-week high for the index. The Nifty 50 was up 58.90 points or 0.7 percent at 7942.70. Nifty went on to close positive because of the GST hopes.
The recent days rally took Nifty to close above the resistance of 7915 levels. 28 out of 50 shares are trading bullish, 13 shares are trading in a range. Only 9 shares are trading in with Bearish outlook. There is a possibility, those will also turn positive, if the trend continues.Read more
With sizable bearish candle Nifty makes new 2015 low. The -227.80 of -2.81% cut took market below the 200 days long termRead more