On the weekly chart, Bank Nifty has formed a ‘Hammer’ like formation indicating buying support at lower levels, and since the last seven weeks, Bank Nifty is holding above 26,000 levels on closing basis which indicates sustained strength, Rajesh Palviya, Head- Technical & Research, Axis Securities, said in an interview with Moneycontrol’s Kshitij Anand.
Q) The Nifty50 on weekly basis closed with gains of 0.54 percent. What does weekly and monthly chart tell about the technical picture?
A) On the weekly chart, the index has formed a "Long Legged Doji" candlestick formation carrying long lower shadow indicating buying support at lower levels.
This candlestick pattern indicates indecisiveness among market participants regarding the direction. Since the past three months, the index is consolidating within a broad range of 10,850-10,530 levels representing a short-term sideways trend
If you want more information regardingtheMarket News & many other tips like Intraday Tips , MCX Normal Calls , Indore Advisory Company , Bullion Market Tips , Share Market Services , NSE & BSE Market Tips , Free MCX Market Tips , MCX Premium Tips , Bullion Energy Tips , commodity market tip.
Visit: http://www.tradeindiaresearch.com
Call On TOLL FREE Number: 9009010900
Whatsapp User Join Our Group: 9300421111
Source:https://www.moneycontrol.com/news/business/markets/hdfc-bank-yes-bank-kotak-indusind-bank-are-showing-strength-2682401.html
0 comments:
Post a Comment