Nifty, BankNifty and Nifty IT have all triggered "Strong Buy" signals on their weekly charts. Refer below for the specific signals on their respective charts. But will these signals hold? The US markets have sent a very different message. After triggering a breakout buy signal earlier on Friday, the DJIA reversed lower. Meanwhile, both the Nasdaq and the S&P 500 formed large red candles on their weekly charts, following breakouts to all-time highs in the previous week. A fai

Nifty and Banknifty have triggered strong buy signals last Friday on their respective daily charts, even in the face of crude crossing USD 100 and INR nearing 96 levels against the USD. Nifty formed a piercing pattern right at a big gap support near the bottom created on the12th of June. A similar pattern occurred on 24th of July that started a big 6 day rally to an intermediate high. However, the latter was also a strong sell failure which is not the case this time. Banknift

DJIA made an ATH on Aug 5, 2026 and has been retracing since then. Last Thursday, the futures dipped into a prior narrow congestion zone by forming a Big Red candle. Such zones are known to offer strong support. It was no surprise to see a strong reversal the next day, a Bullish Engulfing like candle that just stopped short of engulfing the prior red candle. Nasdaq broke out of a very prominent narrow congestion zone on Aug 13, 2026 in the prior week. However, the breakout pr

The price action on the US indices last Friday does not inspire confidence after the bullish breakout on all of them. Below is a brief synopsis of the technical picture: DJIA, after a strong breakout to an ATH the previous week, consolidated sideways through the last week with a negative bias. Last Friday, it closed below the sideways range. The weekly candle formed a narrow Bearish Harami with its high below the high of the previous week's ATH, a bearish development and a se

The US market has broken out spectacularly during this week after an emphatic buy signal that triggered on Thursday in the prior week. Here is a brief technical picture of the main events during the week. DJIA Futures - Big green candle last Monday followed by another big green breakout on Tuesday above the previous pivot high to ATH. Small Reverse Hammer on Wednesday followed by a Bearish Engulfing on Thursday. Narrow range Bullish Harami on Friday, a sell failure and a fres

All the three frontline indices have triggered a buy signal last Thursday. Is this sustainable? What do the charts foretell? DJIA - A longish Bullish Harami formed at the lower boundary of a range on Thursday with a follow up green candle on Friday. Narrow congestion zone lies overhead. Nasdaq - Big Bullish Engulfing formed last Thursday after a range breakdown the previous Friday, a sell failure. A doji formed on Friday, right at the horizontal resistance overhead. S&P - Big

The chart below provides a fascinating example of how the price gets trapped between strong Gap Support below and Gap Resistance overhead and behaves like a ping pong ball. 1) A big Gap Up occured on 3rd Jul followed by a big decline on 8th Jul. The price retraced to produce another big Gap Up on 10th Jul that sits right below the former Gap. 2) Price gets sandwiched between the two gaps, Gap support below and Gap resistance above. For the next 7 days, the price seesaws bet

Last Thursday, Nifty gapped up in the morning and eventually broke out from a range triggering a buy signal. However, by the afternoon, it dipped back into the range closing the opening gap, thus producing a buy failure. A similar setup occurred on 7th of May this year, that resulted in a steep decline of over 1K points over the next 4 days. Banknifty had a similar buy failure last Thursday after breaking out from a range the previous day. Midcap Index had a 1-2-3 breakdown o

Last week has been very volatile with the US indices swinging violently in both directions. However, the charts have spoken - the market seems to reject higher levels and is turning weaker by the day in the last week. Here is a round up of the major global indices- DJIA daily chart - Big Reverse Hammer after making an ATH last Thursday. A prominent buy failure and a strong sell signal. However, the close on Friday is still in the middle of a congestion support zone. Needs to

DJIA formed a big red Bearish Engulfing candle last Friday following a strong green candle the day before. The candle made a new ATH earlier in the day, before crashing by a relatively modest ~ 1.35% for the day. However, the pattern that it formed was a buy failure as the previous day's candle was a buy signal that failed. This is a very potent sell signal as it catches die hard bulls on the wrong foot, even more lethal when it happens at an ATH. If what looks likely materia

Nifty gave a strong sell signal last Tuesday on the daily chart - a Bearish Engulfing candle on the next day after a breakout. A typical buy failure that traps the bulls on the wrong side and can go in the opposite direction big and fast. The result manifested itself last Friday with Wednesday being a narrow range day and Thursday being a market holiday. The price fell violently in the last 30 minutes of trade to make a big red candle that closed near its low and in the middl

While Nasdaq and S&P have made new ATHs on Friday, DJIA has given a classic sell signal the same day. After forming a big bullish engulfing candle on Thursday, DJIA has formed a Bearish Harami pattern on Friday after breaching the range briefly on the upside - a subtle but proven sell signal that combines well with the prior strongly bullish candle. While Nasdaq has rallied strongly on Fridaay, S&P has formed a Reverse Hammer after a strong breakout the prior day, a strong se

Global markets have shown surprising resilience over the past week - in the face of a continuing war that gets fiercer by the day. Does the market know something that we don't or this is just a short lived bounce, destined to taper off in the time to come. Only time can tell. Let's look at the charts to understand the technical picture. Nifty - Nifty has been flirting with the massive weekend gap of 2025 when the market closed at ~22900 on Friday, April 4 and opened at ~ 217

Over the past few weeks, Nifty has slipped below a consolidation range that had held for more than 10 months on the weekly chart. What’s concerning is not just the breakdown, but the fact that the index hasn’t been able to bounce back meaningfully since. Nifty Weekly chart showing a breakdown below a long range The Indian markets are facing pressure from multiple fronts. Geopolitical flare-ups are disrupting supply chains, and the relentless fall in rupee is increasing infla

Over the past few months, US indices have mostly been moving sideways. Yes, they’ve made new highs a couple of times — but each time, the move lacked follow-through. The clearest example was the DJIA breakout attempt on 6th February. It printed a strong bullish candle and closed outside the range. But the move didn’t sustain. Within a few sessions, price slipped back into the range — what we call a buy failure. Typically, a buy failure is a strong sell signal that can lead to

Nifty formed a small bullish candle last Friday that looks like a hammer within the support offered by a massive gap up of ~1200 points last Tuesday after the Indo-US trade deal was announced in the late hours on Monday. Daily chart below. Nifty daily chart showing a hammer formation at support last Friday It is also a small sell failure that breached a small 2 day range before reversing and closing strong on a Friday near the day high, right at a prior horizontal resistance

Last week, Indian markets sent out mixed signals, making the near-term outlook uncertain. A Reverse Hammer formed on the Nifty Futures daily chart last Friday, which also qualifies as a buy failure—a strong sell signal. Notably, this was the second close below the previous pivot low of 7th November, which is clearly not encouraging for the bulls. Nifty Futures daily chart showing a Reverse Hammer closing below support However, Bank Nifty tells a different story. It posted a c

After a very choppy December with numerous false signals, Nifty finally broke out of a range last Friday to close at an All Time High generating a Triple Top buy signal on the weekly chart. Weekly chart of Nifty showing a strong triple top breakout The broader market has performed in tandem. Consider below: ✅ Banknifty has also closed at a new ATH last Friday. The weekly candle is a long Bullish Engulfing that engulfs the prior 5 candles , a strong buy. Weekly chart of Bankn

It’s been a strong week for the Indian markets. Nifty not only touched a new all-time high but also closed at one. Most broader indices moved up as well, except the SmallCap Index. Here’s a quick look at the weekly charts: 1️⃣ Nifty – Formed an outside candle and closed at a fresh all-time high. 2️⃣ BankNifty – Continued its steady uptrend to a new ATH. 3️⃣ CNX IT – Broke out of a double-bottom pattern. 4️⃣ CNX MidCap – Formed a bullish engulfing candle after breaking out two

Nifty has formed a piercing pattern and Nifty Futures a hammer on their respective daily charts after taking support at the gap up between last Tuesday and Wednesday. Bullish formations both. The weekly chart shows a bullish engulfing pattern which is also a 2nd breakout from prior pivot resistance at 25670. Weekly Chart of Nifty showing a Bullish Engulfing Pattern that breaks out of a 3 week range Daily chart of Nifty Futures showing a hammer at overnight gap support The set