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
After taking a breather the week before this one, the Indian equity market resumed its downtrend again and ended this week with a net loss. With this week's decline, the NIFTY has, as of now, has declined nearly 35% on a closing basis. A week before, NIFTY had... READ MORE
We are using Line Charts, as they enable us to take a look at the longer-term structure of the weekly charts. We do this so that we can examine the behavior of the markets against the decade-long trend line, which now stands violated. After a massive decline of over 12%... READ MORE
The unabated meltdown in the equities markets continued this week as well, which saw the NIFTY plunging to the fresh weekly lows. The Indian equities traded in line with the weak global setup and lost ground as rapidly as other global markets. The benchmark index NIFTY declined and ended in... READ MORE
After the violation of critical near-term support a week before, the Indian equities suffered their worst-ever weekly decline of the decade. In line with the global mayhem, the Indian stock markets also saw an equally sharp meltdown, going on to end well below the key moving average and slipping further... READ MORE
The global scare of an economic slowdown following the outbreak of coronavirus saw the world markets taking a severe knock, and Indian equities were no exception. While trading on anticipated lines, the Indian equity markets saw a wide-ranging week wherein the headline index NIFTY moved in the range of 606... READ MORE
The previous week saw one of the worst sell-offs of the decade when the global markets reacted with absolute panic to the spread of the coronavirus, and the Indian markets were affected as well. The global financial markets went in disarray as the world grappled with the possibility of the... READ MORE
While trading just on the anticipated lines, the Indian equity markets continued to consolidate around critical levels throughout the previous week, ending flat with negligible loss. Just as mentioned and expected in the last weekly note, the NIFTY did not make any major headway; the upsides stayed limited and within... READ MORE
The previous week saw the markets consolidating in a 256-point move, as the headline index NIFTY50 ended flat with a negligible gain. After bouncing off from the 50-week MA in the earlier week, the NIFTY continued to trade near its critical zone of 12100-12225 throughout the week while making no... READ MORE
VIPIND.IN - VIP Industries Limited VIPIND.IN marked a peak near 641 in August 2018, formed a lower top 562 and saw a range-bound corrective move that took the stock to 342. The stock has attempted to form a base around that level - given the multiple pieces of... READ MORE
The previous week remained a six-day trading week for the markets. Saturday, February 01, 2020, was a full-trading day because of the Union Budget that was presented. The day turned out to be a wide-ranging day for the markets on expected lines as Union Budget is one of the most... READ MORE
After starting the week on a corrective note, the market recouped some of its losses on the last two trading days of the week. The last few days have remained volatile for the markets as the headline index NIFTY traded in a wider-than-usual range. The index oscillated in an over-340-point... READ MORE