NSEI breaks below previous session low

NIFTY 50 (NSEI) Technical Analysis Report for Jun 14, 2018 [< 1 min read]
NSEI breaks below previous session low
TQ Sentiment
Technical Forecast:

NSEI ended Thursday at 10808.05 losing INR48.65 (-0.45%). Closing below Wednesday's low at 10842.65, the market confirms its breakout through the prior session's low having traded INR69.10 below it intraday.

Daily chart for NSEI

Thursday's trading range was INR60.15 (0.56%), that's far below last trading month's daily average range of INR92.73. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly below average.


Prices are trading close to a key support level at 10770.30.


The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.

Order Flow

Buying could speed up should prices move above the nearby swing high at 10893.25 where further buy stops might get triggered. Further buying could move prices higher should the market test May's close-by high at 10929.20.


While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bearish.

Market Conditions for NIFTY 50
Down Close Near Low of Period TQ Pro Members Only
2 Consecutive Lower Closes TQ Pro Members Only
Closed below last periods low TQ Pro Members Only
Black Candle TQ Pro Members Only
RSI(2) below 20 TQ Pro Members Only
More market conditions identified for TQ Pro members...
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Get the stats behind the charts

Find out what happened when NIFTY 50 traded like this in the past. See the odds for each technical pattern with expected gain and loss.


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