The Indian Hotels Company Ltd (INDHOTEL.IN) This hospitality stock has formed its bottom in June and is in the process of confirming it by moving past the crucial 200-DMA, to which it has presently resisted. If this level is taken out, we may see this stock extending its gains... READ MORE
Nifty Financial Services Index ($CNXFIN) The NIFTY Financial Services sector seem to have ended its short-term underperformance. The Index has broken out from a falling channel and has formed a gap, which indicates greater push to the upside. The RSI has marked a fresh 14-period high, which is bullish. It... READ MORE
The week before this one was quite eventful, as the NIFTY tested all its crucial supports on the daily and weekly charts. The past week saw the NIFTY respecting few crucial support levels on the higher timeframe charts and showing a technical pullback. The four-day trading week showed the headline... READ MORE
Unlike the previous week that had stayed uneventful for the markets, the Indian equities witnessed an immensely volatile week that ended this Friday, September 25, 2020. The markets saw a good start to the week, but the second half of the week stayed terribly volatile, with the markets ending with... READ MORE
The week remained largely uneventful for the markets, as they traded in a narrow range and consolidated over the past five days. The trading range also remained very narrow compared to the earlier weeks. The NIFTY witnessed a movement in the band of just 235-odd point while avoiding taking any... READ MORE
The Indian equities ended the week with modest gains, as they struggled to keep afloat when the global markets showed sharp corrective moves that led to the revision of means. In a trading range that stayed narrower compared to the week prior, the headline index ended with gains, while the... READ MORE
In a wide-ranging trading week, the Indian equity markets halted their four-month winning streak. The NIFTY met its important pattern resistance, from which it reacted. Over the past five trading sessions, the NIFTY saw a trading range of close to 500 points. Amid volatile moves, it was a time for... READ MORE
The Indian equity markets continued their unabated liquidity-driven up move and ended with yet another week with gains. The past five days remained less volatile than expected as the NIFTY remained in a defined range of 275-odd points. The directional move, however, remained unidirectional as the Index continued to move... READ MORE
After taking a breather in the week prior, this week the markets resumed their move higher and posted some incremental gains once again. Over past five days, the NIFTY has experienced range-bound oscillations, with the range still being close to its normal trading width. At the same time, the Index... READ MORE
This was a week when the markets perfectly respected the technical levels; they took a breather and ended with a minor loss. Over the past five days, the NIFTY piled up incremental gains, but the last trading day reversed all those little gains. The NIFTY oscillated in a narrow 262-point... READ MORE
SBIN.in (State Bank Of India) SBI.in has seen a prolonged period of low volatility over the past several weeks, which has led to contraction of the Bollinger bands. Periods of low volatility are often followed by the periods of high volatility. The probability of the sharp move in... READ MORE
After clocking robust gains in July, the NIFTY started off the first week of August on a positive note. Over the past five sessions, the markets traded in a 374-point range before closing the week with modest gains. The NIFTY stayed above its critical levels on both the daily and... READ MORE
After testing a couple of important levels in the week before this one, the NIFTY took a breather and consolidated over the past five sessions. In the previous weekly note, we had highlighted that the momentum at higher levels is diminishing, which might lead to some consolidation at higher levels.... READ MORE
The upper extended trend line shows that the Double Top breakout not only fizzled out, but the price action failed to move past that double top resistance several times. This has reinforced the credibility of this resistance. Presently, the price has slipped below the 50-DMA. The daily MACD has shown... READ MORE
The week before this one had seen the headline index testing a couple of important levels on daily and weekly timeframe charts. On the daily chart, the index had closed a notch above the 200-DMA; on the weekly chart, it had tested the 50-week MA. Over the past five session,... READ MORE
In the previous weekly note, we had mentioned that the markets were losing momentum in general despite some measured incremental up moves. The week that went by traded much on the anticipated lines. The trading range increased over the past couple of days as the NIFTY continued to witness selling... READ MORE
Price action has seen an Ascending Triangle formation in APOLLOHOSP.IN over the past several weeks. In this classically bullish formation, the 200-DMA appears to be acting as a proxy trend line. The prices have tested the 200-DMA five times; any strong move above this could lead to a breakout.... READ MORE
The Indian equity markets went on to end their fourth week in a row with gains as the NIFTY extended its up move. However, unlike the previous week, the trading range narrowed down considerably and momentum appeared to be losing its strength as well. As compared to the 400-point trading... READ MORE
SRF Ltd - SRF.IN Over the past several weeks, this stock moved in a capped range which has been getting narrower. The price action has formed a bullish ascending triangle and has also resulted in a classic Bollinger Band Squeeze. Bollinger bands are over 60% narrower than normal. This... READ MORE
The NIFTY continued its surge for the third week in a row as it extended its gains. In the previous weekly note, we had mentioned the possibilities of the mild extension of the up move. In the week that went by, the NIFTY saw itself oscillating in a slightly expanded... READ MORE
In a relatively less volatile week, the Indian equities continued to surge higher amid liquidity-driven rally. After gaining 2.72% in the week before this one, the NIFTY extended its up move this week as well. The index saw range-bound movement of just 359 points over the past five session,... READ MORE
After taking a breather during the week before this one, the Indian equity markets moved higher again and closed the week with decent gains. The trading range remained less wide than in the previous week. The earlier week had seen the NIFTY oscillating in a 784-point wide range; this time,... READ MORE
Despite rising over 20% from the low point seen in March 2020, the Indian equity markets have continued to underperform their global peers. The figures of the recent giant short-squeeze speak for itself. The headline index NIFTY50 has returned 12.99% over the past three months. However, on a year-to-date... READ MORE
Moving Averages are one of the most simple and age-old tools within a technician's toolkit. This humble indicator is nothing more than a smoothing tool, used for smoothing the price data to form a trend following indicator. It does not predict price direction, just the current trend and... READ MORE
After a strong gain of 5.86% in the week prior to this past one, the NIFTY took a breather after rising nearly 1000 points over the past couple of days following a strong liquidity gush fueled by global risk-on environment. The past couple of days stayed volatile, especially the... READ MORE
Piramal Enterprises Limited -- PEL.IN The stock has under-performed the Pharma Index over the past couple of weeks. Against the broader markets as well, the stock has not performed while it stayed in a prolonged sideways consolidation. Currently, it is just broken out on the upside with greater-than-average volumes.... READ MORE
In a yet another week where we witnessed a gush of liquidity continuing to chase the equities, the Indian equity markets saw a buoyant week and ended once again with an up week. The trading range of the week remained wider on the expected lines. The headline index oscillated over... READ MORE
The previous week remained contrary to expectations; instead of staying within ranged movement, it was a wide-ranging one with the Index ending with robust gains. The NIFTY saw a 600-point wide trading range, much broader than expected. The NIFTY pulled back from the low point and finished on a strong... READ MORE
Markets ended a week that continued to play out much on the expected lines, except for the fact that the volatility was much less than what was expected. Also, the markets continued to display lack of directional bias throughout the week. Despite making a sharply lower top and lower bottom... READ MORE
The past couple of days performed much along the anticipated lines as the markets, in general, continued to portray a bearish undertone and ended the weak on a negative note. After halting the pullback, the NIFTY has formed a lower top near 9900 levels and continued its slide, confirming the... READ MORE
The global equity markets have seen the mother of all volatile times during the first five-and-a-half months of the year 2020. From the peak of early 2020, the key equity markets saw a sharp decline of over 35% in most cases. Following those lows, the stocks have also managed to... READ MORE
The markets fared much along the expected lines over the past five sessions. In the previous weekly note, we had mentioned that if the NIFTY failed to move past the previous week's high, it might end up forming a lower top for itself. Things turned out on the... READ MORE
The previous week saw the markets trading on a much better-than-expected note as the headline index continued to surge higher, ending with strong gains. The markets had seen a loss of momentum in the week before this one; however, the truncated week saw the resumption of the technical rebound, which... READ MORE
After declining over 35% from the 2020 peaks, the global equity markets found a temporary base, and, in the current technical pullback, have recouped over one-third of total losses. Traders and investors alike have formed differing opinions on whether the equities have bottomed out as they pulled back over the... READ MORE
In the previous weekly note, we mentioned the loss of momentum in the technical pullback that the markets had started to witness. In the week that followed that note, the loss of momentum became more evident. Despite a 500-point oscillation and a trading range, the NIFTY halted its pullback and... READ MORE
The front line index NIFTY50 ($NIFTY) and the Nifty Bank Index ($BANKNIFTY) have always shared a steady one-sided relationship since the inception the two indices. The above chart shows the NIFTY and BankNifty's co-performance since inception. Right from the introduction of these two indices in the year 2000,... READ MORE
Titan Industries Limited - TITAN.IN The chart above shows highest Put OI in Titan at 900 and maximum Call OI at 1100 for the April 30 expiry. To interpret this data, that means that it is highly unlikely that the stock will find strong support at 900 and strong... READ MORE
After a sharp technical pullback in the week before this one, the Indian equities continued with the extension of the pullback, but on a very modest note. The trading range over the past five days remained broad, as the NIFTY oscillated in a 500-point range but kept the net incremental... READ MORE
After several negative weekly closes, the Indian equity markets finally ended their losing streak this truncated week as they finally finished with gains. In our previous weekly note, we had categorically mentioned the possibilities of a sharp technical pullback despite ongoing uncertainties because of the outbreak of COVID-19. While trading... READ MORE
Glenmark Pharmaceuticals Ltd (NSE) (GLENMARK.IN) Along with underperforming the broader markets, Glenmark Pharmaceuticals has been underperforming the pharma group as well. Over the past couple of weeks, the stock has been consolidating in a 187-215 range while creating a congestion zone. Now, a few signals have appeared that point... READ MORE