Trade Setup: Nifty 50 sustains above 100-DMA key for further short-covering rally

Tuesday’s market action was as expected; The Nifty 50 edged higher and recouped its previous day’s loss to settle with gains on Tuesday. As mentioned in the previous technical note, short-covering took place as anticipated, and Nifty 50 also halted its bounce near the key resistance point of the 100-DMA. As the day progressed, the … Read more

Trade setup: Key 16,900 level to defend for Nifty 50

Indian stock markets underperformed the global markets on Monday. Indian markets opened in contrast to their Asian peers which were trading on a flat and lightly positive note. After opening marginally on a positive, Nifty 50 marked intraday highs in the opening seconds of trade. In no time, the index was in negative territory; He … Read more

Trade Setup: It is important to hold 100-DMA level for Nifty 50 to avoid further weakness

In a disappointing session on Friday, Nifty 50 did not extend its gains despite trading in a range in the first half of the day. Nifty 50 opened positive on Friday and opened with strength as expected. However, it soon marked a high in the opening minutes of trading. Nifty 50 trimmed its early gains … Read more

Trade Setup: Nifty 50 defends the crucial 100-DMA level; 17,000-17,150 zones to act as main support

The expiry day of the weekly options went quite well as expected. Indian markets closed sharply. Despite inheriting a weak global overnight cues, Nifty 50 started the day on a resilient note. After opening on a flat to mild positive note, Nifty 50 remained in positive territory throughout the day. It defied the weak signals … Read more

Trade Setup: 17100-Level Key Hedge for Nifty 50; stick with defensive stocks

Friday’s day brought a big negative surprise for the stock markets. With US markets closed on Thursday due to the Thanksgiving holiday, no signs were expected overnight. However, renewed Covid fears gripped equity markets overnight, which saw Asian markets open with deep cuts and Dalal Street was no exception. Indian markets had a relatively resilient … Read more

Trade Setup: Positive market breadth key for Nifty 50 going forward

Nifty 50 opened flat and slipped into negative territory within the first hour of the session. However, it marked the day’s low and managed to creep back into the positive zone. After that, the headline index consolidated and managed to cross the crucial 17500 level in a meaningful manner. These gains were maintained until the … Read more

Trade Setup: 17,500 level remains crucial for Nifty 50; Select the best performing areas

On Wednesday, the Nifty 50 opened on a marginally positive note and traded in a narrow range, making it gradually higher during the day. At one point in time, Nifty 50 found itself stagnant and extended its previous day’s uptrend. However, the markets witnessed severe selling pressure in the second fortnight of the day. The … Read more

Trade Setup: Key holding of 17,500-level for Nifty 50 to see further technical downside

Indian stock markets scrambled to find a bottom for themselves on Tuesday, but it was not before the start of the day. In Tuesday’s session, the market once again opened with a negative trend. However, this time the low point was marked in the opening minutes of trading. After a negative start, Nifty 50 spent … Read more

Trade Setup: Nifty 50 in oversold area; Further drawbacks can be limited

Indian stock market fell for the fifth consecutive day; This time around, the Indian market was one of the worst performers in comparison to its peers. Nifty 50 defined a stable trade setup in the open on Monday. The headline index opened marginally on a positive note but marked intraday high points in the opening … Read more

Trade setup: Be selective, avoid creating large leveraged positions on either side

The fourth and last trading day of the week remained under corrective pressure as the market ended the day with losses, while breaching some important support levels. Nifty opened on a marginally positive note; However, this prompted the market to mark its intraday high point in the opening minutes of trading, after which the index … Read more