The bank nifty 4hr chart is showing a “rounded bottom” or “cup with handle” pattern. This pattern is formed when the lower highs and higher lows are formed resembling a cup. The most important thing to notice here is the continuous rise in volatility after taking support @ 38500 and making a low @ 38565. The next target will be 38800-39100 where the prices are expected to face stiff resistance around the same. So it is advised to look for shorts if the prices trades above 37880-38000 which will act as a bearish invalidation point. If we see that the prices remain indecisive and fails to breakout above this resistance level, then look for a bearish candle as a signal of market weakness and brief reversal towards 36900-37300 levels.
You are now able to view a live and constantly updating bank Nifty live chart on our website. A Nifty chart is a graph or table which shows movements in an index over time. You may notice this is different from charts on most other indices. This is due to the way the Nifty tends to rise and fall, it can be quite volatile at times whereas other indices tend to follow a more steady graph over time.
The Indian stock market has been bullish for the last few weeks. The government is putting a lot of effort and investment into the stock market. Many corporations are increasing the dividend yield from the previous quarter or there is an expected increase in the coming quarter. The budget news came out last week and seems to be very promising to further stimulate the growth. We did have a small correction that never went below the previous support level that was able to hold so far. Now we expect to see a small gap up today. The market is expected to continue on a bullish momentum based on the current price action, once the same break above the stiff resistance holding near 38500.
Day Trading and swing trading are the two kinds of stock trading that have gained a lot of popularity these days. So the concept of nifty 50 is based on daily closing and high volume for the various stocks, thus making it easier to select stocks to trade in the Nifty 50 market. The rationale behind this argument comes from viewing market movements from an unbiased point of view. The Nifty50 broke out from the previous day’s trading pattern, currently trading higher at 18442. Spectacular buying power has been seen in banks, oil & gas and telecom sectors with each sector accounting for over 1% gains in the Nifty50 index during morning trade today on the NSE.
The nifty is being supported for the 2nd day of the fiscal month closing, where it is down 0.01%. The Nifty50 charts also indicate that Indian market might have parity with its global peers, as the BSE SENSEX has been trading in negative territory since Jan 2015.Nifty 50 trading was negative during the session. Asian markets were also lower due to weak market conditions with Asian markets are down to 8-month low. Overall market sentiments remain volatile and caution is advised. Rupee was up in trade after the RBI made a policy shifts with regard to CRR (Cash Reserve Ratio).