Nifty 5 Jun 23 to 9 Jun 23 Short ,Medium and Long Term
Nifty closed at 18534 ( 18495) and touched low & high of 18464 and 18664.
Nifty closed marginally higher than previous week.
Buy call was given on dip on 21-May-23.
Last week there was a stiff reistance was given at 18620 and shown with Thick green Horzontal line.
nifty faced that resistance as expected.
RSI ,MACD and Stochastic have crossed the signals and at peak with Further room to move upwards.
Nifty- short term is Long.
Need to decisively close above 18620
Nifty Resistance is inclined trend line ( for the week 18689 to 18734 )
Nifty support at 18111/18204/18274
Buy on Dip
Nifty Medium Term -
Nifty expected to break 18620 and to touch previous high of 18890 /19000 in medium term.
Nifty have multiple support for Medium Term - 17865/18000/18111
Long term-
Need to decisively close above 18890 ( Previous Dec22 High) and also the very important resistance ( Red Inclined line shown 19200- 19350)to reach targets of 19500/20000
Support at 17850 /17550 /17200
Long term Investors can accumulate following Mutual Funds
NIFTY 50 & Nifty Equal weight ( 55%)
Nifty Mid Cap ( 20 %)
Nifty Small Cap (15%)
Nifty IT (10%)
Nifty closed at 18534 ( 18495) and touched low & high of 18464 and 18664.
Nifty closed marginally higher than previous week.
Buy call was given on dip on 21-May-23.
Last week there was a stiff reistance was given at 18620 and shown with Thick green Horzontal line.
nifty faced that resistance as expected.
RSI ,MACD and Stochastic have crossed the signals and at peak with Further room to move upwards.
Nifty- short term is Long.
Need to decisively close above 18620
Nifty Resistance is inclined trend line ( for the week 18689 to 18734 )
Nifty support at 18111/18204/18274
Buy on Dip
Nifty Medium Term -
Nifty expected to break 18620 and to touch previous high of 18890 /19000 in medium term.
Nifty have multiple support for Medium Term - 17865/18000/18111
Long term-
Need to decisively close above 18890 ( Previous Dec22 High) and also the very important resistance ( Red Inclined line shown 19200- 19350)to reach targets of 19500/20000
Support at 17850 /17550 /17200
Long term Investors can accumulate following Mutual Funds
NIFTY 50 & Nifty Equal weight ( 55%)
Nifty Mid Cap ( 20 %)
Nifty Small Cap (15%)
Nifty IT (10%)
