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Nifty Took Down 200-SMA, but a “Hanging Man” Showed Up on the Charts

Nifty50 skyrocket on Friday topped the 10,900 zones with a formation of a bullish trend on the daily chart. The index recorded buying at lower levels as pointed by the “Hammer” formation in the previous trading session. Friday’s session boosted up some confidence among the traders by taking out 200-DMA resistance.

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Nifty50 will Hit 200-DMA Resistance Point After Short-Covering Bounce

The Index witnessed strong short covering at low levels again in Thursday’s session. The market performance was way better than anticipated but ended up trading in a narrow range of sideways trajectory. Nifty remained neutral for most of the day until its last hour recording expiry-led moves. The index moved past 10,700 points and closed with a gain of 1.15 per cent or 121.75 points.

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Expect Stray Recovery, but Nifty Witness Vulnerability at Higher Zone

We talked not only about the rebonds but also the possibility of selling at higher levels in our previous article. Trading took place exactly on the predicted lines with Nifty saw a strong bounce in Wednesday’s session and only got stronger and moved past 10,800 points as the day progressed.

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Nifty Resistance Shifts to Lower Zone ; Investors are Advised to Use Every Pull Back for Exist

In Tuesday’s Session, the index turned out exactly on the expected lines with Nifty succumbing to a corrective move after facing 200-DMA resistance for several days. The market witnessed a negative opening and remained negative in the whole session. There was not any single point where index bounce back, as it remained in the negative zone for the entire session. The index falls below 10,600 points and closed market session with a loss of 1.81 per cent or 195.35 points.

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Nifty Shapes Spinning Top on Weekly Charts as Traders Afraid of Heights

New Delhi: On Friday, Nifty 50 stayed in line with the seen trend since the last four trading sessions, featuring traders’ indecisiveness throughout the week. The index closed at 10,768 points down by 0.42 per cent or 45.40 points.

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Nifty Next Hurdle in between 10,847 – 10,884 Levels

New Delhi: Nifty continued its uptrend pattern on Thursday. In its process, Nifty50 reclaimed it 10,800 zones by forming an inside bar on the daily chart. The next resistance to be break is in 10,847-10,884 points. While the immediate support is in the range of 10,690-10,700.