In the previous trade setup, we discussed the NSE Nifty level of 25,200, which appeared to be a strong resistance, and as per the analysis, that played out. Nifty attempted to move higher but ended up near the 25,000 level. This suggests that, in the near term, the market is waiting for fresh triggers that … Read more
In the Nifty analysis, we discussed a 02 may trade setup, noting that Nifty had formed a kind of hammer pattern with a long wick. This indicated that the market might either move downward or face resistance in moving higher. In yesterday’s trade setup, we also mentioned that although the market had risen, the hammer … Read more
Today, the market broke through the level it had been attempting to surpass for the past 7 days and managed to close above it. The market closed around 24,460, which is above the key level of 24,350 we previously discussed. This marks a stronger closing. However, as mentioned in the previous trade setup, we observed … Read more
As we analysed in the Friday trade setup, it would be difficult for Nifty to cross the 24,359 level, which was the recent high. The market had already attempted twice to break that level, and made another attempt during Friday’s session. However, by the end, it faced sharp selling pressure from the highs. After opening … Read more