Technical Review: A stylish Doji candle form, we would expect a negative profile of the next week

Technical Review: A stylish Doji candle form, we would expect a negative profile of the next week. Nifty 50 hit another high, on June 11, because of an ongoing decline in the number of COVID cases, the run, hoping to be in a rapid decline of the restriction, and an open economy, it would boost sentiment.

In order to get support for IT, metal and pharma promotions, and select the auto mode. Meanwhile, the BSE Sensex index, the today is struck to its previous all-time high.
The index has formed a Doji pattern on the daily chart, as the end was close to the opening. The Doji candle holders demonstrate the incompetence of the bulls and the bears, and also to show that in fact, the analyst, was sold due to a lack of subsequent purchasing interest.

The Index rose by 0.8 per cent during the week, and formed a small bullish candle. This continued until the formation of higher highs and higher levels, and each and every week of the scale, for six weeks.

India VIX fell to 5.98 per cent, down from 15 at 14.10, its lowest level since February 20, 2020. “The one who falls to the VIX can continue to support the cost of a purchase of strategy in the market,” said Chandan Thaparia of Motilal He has.
After the call, Sunday, end of green, so what should investors do on a Monday?
However, given the consistency of the rally in the stock market for four consecutive weeks, the experts take care and looking forward to the next session.

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For now, traders should stay neutral on the long side, ” says Muhammad Mazhar, senior strategist, and business consultant, technical research and trade, at Chartviewindia. he said. Intraday forex traders to open short positions in the 15.749, and look for a target of 15.600.

Nifty opened higher, and pointed to the 15,796. 45 and hit an intraday all-time high of 15,835.55 in the morning, in order to monitor the volatility, however, remained in positive territory throughout the session. The Index, kayuta, he came into the door, and signed to a record closing high of 15,799. Up to 40 minutes yüksələrək 61.60 points.

“Even if the Nifty50 continued its rise for the fourth week in a row, the most indecisive Doji formation in the daily chart, along with a smaller trading range, with 266 the core of the entire week, indicating a weakening of the momentum,” said Muhammad.

In addition, some of the technical oscillators on the weekly charts seem to have a touch up of the indicators listed below overbought levels, and the relative strength index on the daily chart is that a recording all the creation of the adverse claim, because it was not possible to overcome the highest price in the chart,” he said.

Thus is the current state of the ideals of trading is established for the following week, and in the direction of consolidation, with a negative bias, he says.

According to him, if the bears manage to push the index of the 15,835, the rally can extend to 15,950-16,000, however, that its resistance will be called into question.

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If the Nifty falls below the 15,749, their first target on the downside is going to be a 15,566, ” he said.

For the one in the front, the top, open the interest of the Sheep was seen at the level of 15 000 people, of them 15 to 500 of the strike, and the maximum amount of open interest in the Conversation is seen at the level of 16, 000, in order, followed by the 16,100 strike. Please note, the call is seen at a time for 15 800 16 100 were withdrawn, and the Puta entry, seen at the time of a 15-500 is a 15-709 was.

Options information is likely to be immediately available to the trade in the range of 15 to 500-16 000.

Bank Nifty opened positive on the 35,324. A 65, but it was moved to the south in the first half of the session. In the second half of the day was one of the range of movement, and is finally closed the day with a loss of 83.80% of the 35,047. 40.

The Index formed a bearish candle, at both the daily and weekly scale, however, there was also the pressure to which the offer was, the higher the points. “It now needs to hold above $ 35,000 to witness the level of the upward move to $ 35,500 to $ 35,750 level, and, on the other hand, support on the visibility of the levels, the $ 34,750, and the $ 34,500,” said Chandan Thaparia, executive vice president, derivatives analyst at Motilal Oswal Financial Services.

Stock on the trading front, and saw the PARUS, Aurobindo Pharma, Tata Steel, Coal India, Jindal Steel & Power, Ashok Leyland, JSW Steel, Mahanagar Gas, the Dr. Reddy’s Labs, Glenmark Pharma, Cadila Healthcare, TCS, and Infosys. According to him, the Tapariya, the weakness is observed, and the Container Corporation, Canara Bank, UltraTech Cement, Designed, and L&T.

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Disclaimer:The views and investment tips expressed by experts on are their own and not those of the website or its management. advises users to check with certified experts before taking any investment decisions.

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