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
The end of the previous week saw the NIFTY taking support at its 50-Week MA but making a downward breach on the downside from the secondary channel, which was formed after the NIFTY breached the primary uptrend in October 2018. The week that went by saw the index extending its... READ MORE
In the week before this past week, the NIFTY rested itself and took support on the lower rising trend line of the nine-month-long secondary channel that had been formed. This secondary channel was formed after the index breached its three-year-long upward rising channel in October 2018. In the previous weekly... READ MORE
In the previous weekly note, we had raised concerns as the NIFTY had slipped below its 20-Week MA and the volatility index, VIX, traded at a multi-month low. It was expected that the volatility was likely to increase while there are chances of markets drifting lower. The week that went... READ MORE
After meeting resistance around 11800-11840 for seven weeks, the markets loosened up a bit over the past week while ending with losses. NIFTY spent the previous couple of weeks in a defined range as it remained indecisive and did not make any convincing directional call. This week, the NIFTY witnessed... READ MORE
The markets were range-bound over the course of the week, but remained volatile on anticipated lines while digesting the Union Budget on Friday. As expected, the event failed to infuse any cheer in the markets, with the NIFTY remaining within a defined range and oscillating in a limited band. The... READ MORE
After claiming an absolute majority again in the 2019 General Election, the Narendra Modi Government is slated to come up with their first budget of the second term on Friday, the 4th of July, 2019. Many expectations have been building up around this event, which has always been one of... READ MORE
DREDGING CORP. OF INDIA LTD -- DREDGECORP.IN Following a prolonged down move and some subsequent bottom-finding, DREDGECORP is set to confirm its reversal. The stock is currently breaking out of a falling trend line resistance, which begins from 479 and joins the subsequent lower tops. In the process, the... READ MORE
In the previous week, the markets were expected to remain mostly volatile and to remain under range-bound oscillation without making any significant headway. In line with this analysis, the NIFTY headed nowhere, had a lackluster week and ended with mild gains on a weekly note. While the NIFTY continued to... READ MORE
In our previous weekly note, we had mentioned the possibility of the markets not giving any runaway moves on the higher side. The week that went by remained on expected lines as the headline index resisted to one of its significant double top resistance areas, which lies in the 11840-11880... READ MORE
In yet another wide-ranging week, the NIFTY oscillated in a 400-point range, ending the week with a modest cut. In our previous weekly note, we had raised concerns about the NIFTY failing to confirm the attempted breakout. In line with the our analysis, the index did not show any intention... READ MORE
Throughout the previous week, the Indian equity markets remained less volatile than expected, but, at the same time, marked some important technical events. After trading in a 350-point range, the index hit its key resistance zones, retraced and ended the week with a modest loss. The RBI Credit Policy largely... READ MORE