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
With geopolitical tensions subsiding, the market had a quiet week as it continued to post a small amount of incremental gains. The trading range also remained capped due to the market oscillating in a capped range. While showing no volatility at all, the NIFTY made minor advancements on the higher... READ MORE
The headline index NIFTY is presently trading near its lifetime-high levels, returning a stellar 15% over the past 12 months and 1.08% on a Year-to-Date basis. Having said this, the loss of momentum and few negative divergences on the leading indicators are quite evident on the charts. It will... READ MORE
As the Indian markets traded on the anticipated lines, they continued to consolidate, but also saw tremendous volatility owing to the geopolitical tension in the West Asian region. The NIFTY traded in a wider-than-usual range and ended the week on a relatively flat note. The index witnessed close to 400... READ MORE
The Indian markets witnessed consolidation again for the second week in a row. The markets saw a generally stable week, one that remained in a limited and defined range and ended mildly in the negative. In the previous weekly note, we had expected the consolidation to continue, and indeed the... READ MORE
As 2019 ended, we saw the markets ending near the high point of the year. Despite the negative ending on the last trading day of the year, the front-line NIFTY50 has ended the year with strong gains of 11.53% on an annual note. However, that being said, the year... READ MORE
JUBLFOOD.IN This stock has seen 2 months of sideways moves and, during this time of consolidation, the RS line, which compares the stock against the broader NIFTY 500 Index, is strongly moving higher. The Bollinger Bands have grown over 60% narrower than usual, which reflects a period of low... READ MORE
With just two trading days left in the year, this week will usher us into 2020. The markets are set to end near their highs this year, but they are also leaving us at a critical juncture if we look at the market technical from the long-term point of view.... READ MORE
The risk-on global setup, which had begun a week before, continued throughout the past week as well. The resultant buoyant setup fueled the Indian markets higher as well, which ended at their high lifetime levels. Though the momentum continued to falter, the markets did not show any sign of retracement... READ MORE
The Indian headline index NIFTY ($NIFTY) moved past its double top resistance level of 12103 on a closing basis, ending at a fresh life-time high at 12221.25. However, looking at the broader NIFTY500 Index ($CNX500) throws up some interesting insights. The above chart tells a story of a thousand... READ MORE
The risk-on global setup towards the end of the week saved the Indian markets from ending on a net negative note. Following a weak initial performance, the Indian markets picked up in the second half of the week. The NIFTY pulled itself back after testing the lower end of the... READ MORE
In contrast to the one that came before, this past week gave back all its gains while ending near the low point of the trading range. The markets were sitting on the verge of a breakout, but that did not amount to anything as the markets refused to break above... READ MORE
After healthy consolidation around the 12000 level over the past couple of weeks, the NIFTY has attempted to break above a year-long secondary trend that it was in by ending the week with gains. Throughout the week, the markets pushed hard to breach the double-top resistance on the shorter-term charts... READ MORE
As I complete this weekly technical note, I have just wound up the inaugural CMT India Summit at Mumbai yesterday. Insights shared by the Association's co-founder Ralph Acampora, Martin Pring and Julius de Kempenaer were the key takeaways of the event. Coming back to the markets, although they... READ MORE
The week that went by continued to trade on the expected lines, while the 12000-12050 zone continued to pose resistance to the markets on the upside. The week was spent with the markets consolidating at higher levels while demonstrating weakness near the critical resistance zone. The NIFTY headed nowhere over... READ MORE
The previous week played out very much on expected lines. In our last weekly note, we mentioned that NIFTY is facing stiff resistance in the 12000-12100 area and that the bearish divergences are not allowing a clean breakout on the charts. After staying buoyant for a significant part of the... READ MORE
During a truncated week that began with a short Mahurut session, the markets ushered us into the new year on a buoyant note. In the previous weekly note, it was mentioned that the NIFTY's behavior against the price zone of 11700-11750 would be crucial to watch and that... READ MORE
The year that ended today, with NIFTY closing at 11583.90, remained quite eventful for the Indian equity markets. We traditionally wish a "Happy and Prosperous New Year," and the current year remains prosperous in a literal sense. On the last trading day of the current Samvat on... READ MORE
In the previous weekly note, we had mentioned the possibility of the NIFTY consolidating in a defined range while having a limited upside. Though it traded in line as anticipated, the NIFTY spent a significant part of the week resisting and consolidating near the 11700-level. While continuing to stay above... READ MORE
The Indian equity markets had a strong week, making a steady upside move and ending the week with decent gains. In the week before this, the NIFTY had defended its crucial support levels of 200-DMA on the daily charts and the 50-Week MA on the weekly charts. After successfully defending... READ MORE
While trading in a broad range, the NIFTY struggled to find some base and managed to end the week with modest gains. The trading range of the NIFTY remained just moderately broad, but it oscillated quite a lot, infusing intraday volatility during the trading sessions. While holding on to its... READ MORE
In the previous weekly note, we had pointed out that the signs of exhaustion in the markets are visible; this week may see some profit-taking from higher levels. The past couple of days worked out much on the anticipated lines, but the profit-taking remained more intense than expected. The NIFTY... READ MORE
Following the announcement of fiscal stimulus on Friday, the market extended its gains in the following week, but, at the same time, also consolidated at higher levels. After some more follow-up up moves in the first half of the week, the second half was spent in some volatile consolidation and... READ MORE
In a week that turned dramatic on the last day, the markets that were over 3% down through the week pulled into positive territory in one single session. On Friday, the headline index saw its highest-ever single-day gain, ending 5.32% higher. The pronounced shift in the trend came in... READ MORE
The week remained positive for the Indian equities as the benchmark index closed with week with net gains. The markets witnessed up-moves over the past couple of days, but those were fueled mostly by short-covering, which was triggered from the lower levels. The NIFTY successfully defended the critical support levels... READ MORE
In the week that went by, the Indian equity markets did not make any directional move on any side. The index oscillated back and forth in a defined range and ultimately ended the week on a flat note. The India Volatility Index (INDIAVIX) also remained flat, losing just 0.01... READ MORE
Throughout the past week, the Indian equity market struggled to keep its head above crucial levels and ended the week with modest gains. Keeping on anticipated lines, the week remained very volatile as the markets oscillated in a 385-point range. The week that went by digested the reforms initiated by... READ MORE
The past week generally went along the anticipated lines. The broader structure of the markets continued to be weak; it faced severe volatility during the past trading days and faced heavy selling pressure at higher levels. After a thoroughly volatile week, the headline index ended with a net loss of... READ MORE
With a 3-day working week, the markets moved along expected lines and stayed within a limited range. As anticipated, the NIFTY did not make any directional move, remaining within the 50-Week MA and 100-Week MA (as mentioned in our previous weekly note). After flirting with the 50-Week MA, which stands... READ MORE
After bouncing off its 100-Week MA in the previous week, the markets attempted to take a breather and stabilize during the past week. The NIFTY was able to bounce back once again from the 100-Week MA; this pullback was aided by the oversold nature of the markets on the short-term... READ MORE