The Nifty 50 maintained its upward trend for another session on January 15, especially after the recent sharp correction, indicating a temporary relief rally. However, the overall trend remains in favor of the bears, given the negative bias in momentum indicators and the index trading below all key moving averages. If the index extends its northward journey, the 23,350 level (Monday’s high) may ...

Nifty Trading PlanThe Nifty 50 continued its downward movement for the seventh consecutive session, falling below the 23,500 level on November 18. Most technical indicators suggest bearish sentiment, although the RSI (Relative Strength Index) has reached oversold levels. If the index sustains below 23,500, the further downside cannot be ruled out, potentially targeting the 23,300–23,200 zone. Ho...

Nifty Trading PlanThe Nifty 50 closed just below the 200-day EMA (Exponential Moving Average) on November 14, posting a marginal loss of one-tenth of a percent. For the week, it dropped 2.55 percent with a long bear candle and a lower tops-lower bottoms formation, signaling weakness. Therefore, the index could extend losses to the 50-week EMA at 23,200, the next downside target. However, given the...

Nifty Trading PlanThe Nifty 50 sustained its northward move and, as expected, hit 24,500 intraday, closing more than a percent higher with a bullish candlestick pattern on the daily charts on November 6. After a significant run-up of around 700 points in the last two days, some profit booking and consolidation cannot be ruled out, according to experts. Sustaining above 24,500 could take the Nifty ...

Nifty Trading StrategyThe market easily wiped out the previous week's gains in a single day, declining 1.3 percent and finally testing the August low on November 4, forming a bearish candlestick pattern on the daily charts, which indicates weakness. If the index sustains below the psychological 24,000 mark, the next downside target to watch is 23,500, which coincides with the 200-day EMA (Exponent...