Nifty View: With renewed buying, the Nifty moved above the previous week’s high, forming a strong bullish candle backed by higher volume. Volumes were higher than the last two days but still below the average. It closed decisively above the 50 DMA. Additionally, it moved above the 38.2% retracement level of 19,673, which is the …
Nifty And Bank Nifty Analysis – September 26, 2023
26 September 2023Nifty 50: The Nifty has formed a Doji candle after a decline of over 3%. Previously, it found support at the 50DMA, as we discussed. The bounce from the 19,585-19,626 support zone is now a reality. The index closed flat, indicating exhaustion in the trend. Now, Monday’s low of 19,601 is a crucial support for …
Nifty And Bank Nifty Analysis – September 22, 2023
22 September 2023Nifty: Nifty declined sharply over 500 points from its all-time high level of 20,222.45 registered on September 15. We cautioned about this decline, as the market was impulsively overextended. The index is below the previous low and also below the prior breakout level. It retraced 50 per cent of the prior rally in just three …
Bank Nifty Analysis & Trading Strategy For September 20, 2023
20 September 2023The Bank Nifty ended Monday’s session with losses of over half a percent; as a result, it closed below the previous day’s low, forming a bearish candle. The decline with higher volume shows a clear reversal signal. It has formed a shooting star-like candle on the daily time frame. The last three days of price …
Bank Nifty Trading Strategy For Today – 18th September
18 September 2023For the past week, the Bank Nifty index extended its winning streak for the fourth consecutive week, logging robust gains of 2.38%, the highest weekly gains since mid-July. The index is now approximately 130 points away from its all-time high. On the daily time frame, the index formed a bullish candle as the closing price …
Bank Nifty Trading Strategy For Today – 15th September
15 September 2023On Thursday, the Bank Nifty opened the session in positive territory and reached a high of 46,513.90. Afterward, the index traded within the range of the first 75-minute candle and formed a Doji candle on the daily chart because the open and close for the day were close in proximity. More importantly, the formation of …
