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Market texture still non-directional
If Sensex slips below 73,700 level, then possible one quick intraday correction till 73,400-73,200 range
Nifty forms another lower high candle
Benchmark index closed below 8EMA and prior breakout level of 21,593 pts
Market texture is non-directional
Traders waiting for either side breakout
Range-bound activity in near future
The benchmark indices continued profit booking at higher levels, after a sharp correction, BSE Sensex was down by 796 points. Among sectors, almost...
VIX at lowest levels, move with a neutral to negative stance
The Nifty has formed another hanging man candle. It closed below 20DMA. VIX is at the lowest level since Dec 2022
Avoid short positions
Nifty is finally able to close above the 20DMA; However, a 22-point positive closing is not convincing to be strongly bullish
Sensex forms Doji candlestick
On the day of weekly expiry, the benchmark indices witnessed narrow-range activity as BSE Sensex was up by 142 points
Range-bound movement may continue
Nifty is still trading below the short-term averages of 5 and 8EMAs