VN Research & Consulting
 Like us on facebook  Follow us on twitter  Follow us on LinkedIn  IndiaNotes on Google Plus  IndiaNotes on Pinterest  IndiaNotes on Stumbleupon  Subscribe to our feeds

Stocks  A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z
You are here : IndiaNotes >> Market Action >> Technical

Nifty: The underlying term trend of Nifty continuous to be positive

HDFC Sec | 17 Jul, 2017  | Follow Author | Add to my Favourites 
  • Rate this article
    (Average Rating 0.0 Based on 0 ratings)

Current Observation:

- Nifty shifted into consolidation today with positive bias and closed the day higher by around 29 points.

- Nifty opened today with positive note and later moved into sideways range movement for better part of session. Finally made an attempt to move up towards the end.

- A high wave type candlestick pattern has been formed today (small body with upper and lower shadow) at the new highs of around 9928 levels. This pattern is indicating a choppy trend in the market at the higher levels.

- Daily 14 period momentum oscillator like RSI has placed at the peak of 77 levels. Previously, daily RSI made a high of 77 (mid of March 17), leading to reversal pattern in the underlying.

Conclusion & Strategy:

- The underlying term trend of Nifty continuous to be positive, still there is no indication of any reversal pattern at the highs.

- Momentum oscillator has reached an important peak at 77 levels, which is hinting at the possibility of a beginning of downward correction soon.

  Read full report Click here to read the full report

About HDFC Sec

HDFC Securities a trusted financial service provider promoted by HDFC Bank and JP Morgan Partners and their associates, is a leading stock broking company in the country, serving a diverse customer base of institutional and retail investors. provides investors a robust platform to trade in Equities in NSE and BSE , and derivatives in NSE. Our website will support you with the highest standards of service, convenience and hassle-free trading tools.

For more information please write in to [email protected]

Disclaimer: The author has taken due care and caution to compile and analyse the data. The opinions expressed above are only the views of the author, and not a recommendation to buy or sell. Neither the author nor accept any liability whatsoever arising from the use of any of the above contents.

Technical Calls

What are technical calls?

Other Articles