Market Overview: Nifty 50 Futures Nifty 50 channel breakout on the weekly chart. On the weekly chart, the market gave a strong bullish close, continuing the bulls’ attempt to reverse the trend. At the moment, the market is trading close to the 50% pullback of the bear channel, which might act as a level of […]
Nifty 50 Breakout Gap
Market Overview: Nifty 50 Futures Nifty 50 breakout gap on the weekly chart. The market gave a strong bull bar this week, closing near to its high and at the high of the bear channel (i.e., a resistance). If the market breaks out of the channel, there will be an immediate resistance above the current […]
Nifty 50 Doji Bar
Market Overview: Nifty 50 Futures Nifty 50 doji bar on monthly chart. After three consecutive bear bars, the market created a doji bar this month. The monthly chart is in a bull trend, the market may be trading in a bull channel. The price action over the past 20 bars on the monthly chart shows […]
Nifty 50 Big Round Number
Market Overview: Nifty 50 Futures Nifty 50 big round number acting like a support for the price. Nifty 50 on the weekly is still inside the bear channel and present bear leg is the 3rd bear leg in this bear channel. In this week’s trading, the market formed a tiny bear bar with tails above and […]
Nifty 50 Wedge
Market Overview: Nifty 50 Futures Nifty 50 wedge on the weekly chart, due to the long wick at the bottom of the candle, bears may not be interested to sell next week. The daily chart of the Nifty 50 showed a bear breakout of the wedge, but it appears that few bears anticipated the move, which […]
Nifty 50 Cup & Handle
Market Overview: Nifty 50 Futures Nifty 50 cup & handle on the weekly chart, bulls failed to follow through after attempting a double bottom. Now that bears have closed a strong bear bar, some bears may decide to short the cup & handle pattern on the weekly chart. On the daily chart, price action is […]
Nifty 50 Inside Bar on Monthly Chart
Market Overview: Nifty 50 Futures Nifty 50 inside bar on monthly chart. The market on the monthly chart created a small bull bar that closed near its high; since the low and high of this bar are both within the range of the previous bar, it is an inside bar. As the bull leg that ended on […]
Nifty 50 Bear Channel
Market Overview: Nifty 50 Futures Nifty 50 bear channel on the weekly chart and Nifty 50 is also forming a micro double top pattern. This week’s market showed an impressive bear bar that closed close to the low, possibly attracting some bears to sell and anticipate a micro double top and measured move down. On […]
Nifty 50 Micro Double Top
Market Overview: Nifty 50 Futures Nifty 50 micro double top on the weekly chart, but since the market formed a bull bar this week, few bears would be shorting below the bar 1 (shown on the weekly chart below). However, given that the market is still moving inside of a bear channel, some bears might […]
Nifty 50 Bull Inside Bar
Market Overview: Nifty 50 Futures Nifty 50 bull inside bar on the weekly chart, with market forming a small bull bar this week indicating that there would be a trading range in the shorter time frame. The market is currently trading close to the big round number 18000 from the previous few weeks. On the […]