BSE See NSE See 48,803.68
259.62 (0.53%)

Will bulls finally break the shackles of resistance?

Karan DSIJ / Article rating: 5.0

The daily RSI is forming an inverted head & shoulders pattern. Watch out for the level of 60 closely as a move above this level will lead to a resumption of an uptrend after a decent consolidation.  Bollinger Bands are still moving at a parallel distance. As Nifty is above the 20-DMA, be with a positive bias as long as it trades above it. The MACD histogram shows that the bearish momentum has declined significantly.  

Nifty forms shooting star pattern; Bank Nifty holds key for further upmove

Karan DSIJ / Article rating: 4.6

Technically, the index might have logged gains of 115 points on Thursday. However, the day’s range was confined within 111 points while the gains were largely due to the gap-up opening. Since Thursday’s trading range was the lowest in the last seven trading sessions, it led to the formation of the NR7 pattern.