Market Overview: Nifty 50 Futures Nifty 50 Wedge on the weekly chart. The market formed the fifth consecutive bear bar on the weekly chart, which is closing close to its low. However, the bear bar has a long tail at the top, suggesting a potential trading range rather than a reversal. The likelihood of a trading range […]
Nifty 50 Trading Range
Market Overview: Nifty 50 Futures Nifty 50 Trading Range on the weekly chart. The market is fluctuating between the big round numbers 19000 and 20000 on the weekly chart, which serve as a support and a resistance, respectively. On the weekly chart, the Nifty 50 is exhibiting increasing trading range behaviour, increasing the likelihood that […]
Nifty 50 Trading Range Price Action
Market Overview: Nifty 50 Futures Nifty 50 Trading Range Price Action on the weekly chart. This week, the market created a small bear bar that closed close to its low and an inside bar pattern that could signal a gradual decline. The tight bull channel in which the weekly is still trading makes it more […]
Nifty 50 Wedge Top Overshoot
Market Overview: Nifty 50 Futures Nifty 50 Wedge Top Overshoot on the monthly chart. After the bull breakout of the wedge top, the market gave a weak bull close on the monthly chart. Bulls need good follow-through bars to successfully break out of the wedge top. Bulls need to provide a strong bull close above @20000 level in […]
Nifty 50 Inside Bar
Market Overview: Nifty 50 Futures Nifty 50 Inside Bar on the weekly chart. By forming a small bear bar with short tails on either side, the market gave a weak bear close this week. Overall, a second leg up is more likely given that the weekly chart is trading inside of a wide bull channel […]
Nifty 50 Big Round Number on Weekly Chart
Market Overview: Nifty 50 Futures Nifty 50 Big Round Number on weekly chart. This week, the market had come close to the @20000 level but ran into strong resistance, creating a long tail at the top of this week’s bull bar. The market is trading inside of a tight bull channel on the weekly chart, […]
Nifty 50 Bull Follow-Through Bar
Market Overview: Nifty 50 Futures Nifty 50 Bull Follow-Through Bar on the weekly chart. After the formation of the strong outside bar, the market gave a reasonably strong close this week to carry on the upward trend. On the weekly chart, the Nifty 50 is trading inside a big bull channel. On the daily chart, […]
Nifty 50 Broad Bull Channel
Market Overview: Nifty 50 Futures Nifty 50 Broad Bull Channel on the weekly chart. Following the large outside bar, the market this week produced a weak bull close with a long tail on the top. A few bears may sell because the market is trading near the top of a potential wedge top. On the daily […]
Nifty 50 Wedge Top Breakout
Market Overview: Nifty 50 Futures Nifty 50 Wedge Top Breakout on the monthly chart. On the monthly chart, the market formed its third consecutive bull bar as it closed close to its high. This month, the market also provided a strong close above the wedge top (breakout). In general, there is a 25% chance of […]
Nifty 50 Broad Bull Channel
Market Overview: Nifty 50 Futures Nifty 50 Broad Bull Channel on the weekly chart. This week, the market gave a strong bearish close and is currently trading inside a strong, tight bull channel. The bulls tried to break above the all-time high and give a strong close this week, but they were unsuccessful. The bears are […]
