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NIFTY ON 20-12-2022 Following weak global cues Index opened gap down and fell to retest 18200 during intraday. However, buying in Heavyweight Reliance and IT supported the Index at lower levels and despite all vital indices closed in Red (except IT , METAL and OIL&GAS) Index recovered from the day low of 18202 to reach the day high of 18404.90. Index closed near...

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NIFTY ON 16-12-2022 The dented sentiments by the Hawkish commentary of Fed Chairman saw no revival and the Index continued to lose on the last trading day of the week. Opened gap down Index attempted to reclaim all the gains it lost during last trading sessions. However, amid weak global cues the Index broke all its important support levels and retested 18250...

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NIFTY ON 13-12-2022 Opened positive Index defended 18500 decisively and marched north towards the immediate resistance level 18600-650. The positive News regarding CPI Inflation and positive global cues coming from US shaped the sentiments and buying was seen in almost all vital indices. IT and BANK took the leadership with gains of 1.12% and 0.54% while a...

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NIFTY ON 09-12-2022 The major selling in IT dragged the Index below its crucial support level of 18500 and consequently the Index retested 18400 during intraday. NIFTY opened gap up but failed to sustain 18600 as all the IT stocks felt the selling pressure as a result of negative commentary of HCL TECH management. METAL also participated in the fall and lost 1.12%...

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NIFTY ON 12-09-2022 Global positive cues, a pull back rally in IT and support from METAL played the crucial role in pushing Index during today’s session. Index opened gap up and a unidirectional rally was observed which took Index to the day high of 17980 i.e. near the crucial level of 18000 and out of the congestion zone of 17825-17900. Index closed above...

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NIFTY ON 09-09-2022 A sharp rally in IT after a long correction and continuous buying in BANK pushed the Index upward to test the 17900 level. Opened gap up near the day high and crucial resistance level of 17900 Index failed to sustain and profit booking as well as selling pressure was observed which dragged the Index below 17800 to the day low. Index closed...

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NIFTY ON 08-09-2022 With support from BANK and IT Index finally succeeded to close above the trading range of 17475-17700. Today’s session was influenced by the positive global cues and reduced Crude oil Prices as there is no other domestic trigger active. Among the vital indices only METAL showed weakness with loss of 0.90%. Index closed at 17798.75 with a gain...

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NIFTY ON 07-09-2022 As we discussed in the previous post that there are high chances that NIFTY may open gap down and levels may be respected on both sides NIFTY opened gap down and a sharp fall was observed during the first 15 min of the trading session which dragged Index to the day low of 17484.30. As expected buying came from lower levels and with support of...

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NIFTY ON 01-09-2022 NIFTY witnessed the short covering as soon as the Market opened and reached the day high of 17695.60 during the first hour of the trade. However, Index failed to hold at upper level and fell to day low of 17468.45. Except AUTO all the vital indices closed in red with IT (-1.98%) and FMCG(-0.74%) as the top losers. NIFTY closed at 17542.80...

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NIFTY ON 30-08-2022 After a gap-up opening NIFTY began its unilateral northward rally defying all the important resistance levels to reach near the 17800 which is a congestion zone. Buying in all the indices along with BAJAJ FINANCE (4.91%), RELIANCE (1.55%) and HDFC BANK (3.24%) pushed the market. BANK and IT emerged as leaders with gains of 3.29% and 2.63%...

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NIFTY ON 10-08-2022 After a narrow gap-up opening, the Index observed a minor profit booking was during the first trading hour and NIFTY took support at its first level ( Near 17410) and traded in a range bound manner during the entire day. METAL, AUTO and BANK supported the Index with gains of 1.62%,0.18% and 0.13% respectively NIFTY finally closed at 17534.75...

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NIFTY ON 08-08-2022 Defying all technical indicators and guesses NIFTY finally broke the trading range of 17350-500 and succeeded to close above 17500 which has been a crucial level to cross. Buying in heavy-weights HDFC Bank and Reliance strengthen the positive sentiments of Investors and consequently all the vital indices closed in Green except IT which lost a...

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NIFTY ON 06-08-2022 NIFTY traded in a limited range of 17350-17500 as levels at both the ends were respected by the market forces. Among major indices BANK and IT continued to support the Index with a gain of 0.44% and 0.64% respectively while AUTO and METAL lost 1.09% and 0.44% respectively. NIFTY finally closed at 17397.50 with a marginal gain of...

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NIFTY ON 04-08-2022 So finally NIFTY ended its winning streak and a sharp correction was observed from day high of 17490.70 which dragged NIFTY to 17161. It was nothing unexpected as all the indicators were indicating that NIFTY may correct from current levels at any point of time. Even in the previous two posts it was mentioned that traders must be cautious at...

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NIFTY ON 03-08-2022 Moving against all odds NIFTY continued its northward journey during today’s trading session. The buying in heavyweights RELIANCE, INFOSYS and TCS pulled the Index towards 17400 and NIFTY made an intraday high of 17407. IT emerged to be the leader with a gain of 1.35%. NIFTY closed at 17388.15 with a gain of 0.25%. Technical View : (Daily...

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NIFTY ON 02-08-2022 There is nothing worth mentioning in this segment as the continuous buying from FIIs helped index to sustain the 17300 level as it happened yesterday. Only the sectors taking the leadership have changed. We should not waste time in this segment and move for the next one. Technical View : (Daily Chart) NIFTY has made a spinning top kind of...

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NIFTY ON 01-08-2022 The continuous buying from FIIs helped index to surpass the crucial level of 17300. The continuous buying from FIIs may be a result of the predictions of robust Indian economic growth by different global institutions or may be the lessened worries about recession in US. Whatsoever be the reason the result is in favour of the Bulls who...