Nifty signalling consolidation after a smart rebound

Published On: Saturday, June 13, 2020 | By: Team KnowMyStock

On Friday 12th June Nifty50 tested the 9,550 level, before a smart rebound. At one point and it looked like the index would reclaim the 10,000 level, but missed it by a whisker. The index formed a long bullish candle on the daily chart with a marginal upper wick. Analysts said the recovery following a gap-down opening was encouraging, but a 'Bearish Engulfing' candle on the weekly chart is not. Analysts see consolidation ahead. The index closed the day at 9,972, up 70.90 points or 0.72 percent. “The intraday recovery,” said an expert, “halted near the key hourly moving average that had earlier restricted the index from climbing above the psychological mark of 10,000.” "The weekly chart is showing signs of weakness, as the index has formed a Bearish Outside bar near the key weekly moving averages. The recent high of 10,328 becomes a major hurdle for Nifty now. On the flip side, Friday's low of 9,544 will become short-term support," he said.

Closing Bell: Sensex gains 85 points, Nifty at 18755.90

Closing Bell:Sensex gains 418 points, Nifty at 18716.15

MARKET UPDATE: Sensex rose 135 points to 62761, and the NSE Nifty50 moved 40 points higher to 18,600

Closing Bell: Sensex down 223 points, Nifty at 18,563

MARKET UPDATE: Sensex surged over 100 points to trade around 62,962 levels, whereas Nifty50 climbed over 30 points to trade above 18,650 levels

MARKET UPDATE: Sensex gained over 50 points to trade around 63,228 levels, whereas Nifty50 traded marginally above 18,700 levels

MARKET UPDATE: Sensex surged over 150 points to trade around 62,988 levels, whereas Nifty50 gained over 50 points to trade above 18,650 levels

MARKET UPDATE: Sensex traded flat at 62,777 levels, whereas Nifty50 was flat above 18,600 levels

Closing Bell: Sensex up 240 points, Nifty at 18593.85

MARKET UPDATE: Sensex rallied over 300 points, whereas Nifty50 gained over 50 points to trade above 18,600 levels

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