Nifty Long Term Analysis, Observations and Conclusion.
Nifty Long Term Outlook: (Little Long message but must read analysis for all connected to stock market).
Nifty seems to be moving pretty solidly since 2019 in the long term channel shown in the chart. We have also intersected the chart with fibonacci supports and resistances for the Nifty. The candlesticks used are monthly. The Channel starts from Mid 2019 and extends upto 2026. Top considered for Fibonacci retracement is the pre-covid high and bottom is Covid low. This comprehensive chart gives us various scenarios to study. The same are depicted as under:
a) Nifty is trying to sustain above the mid channel resistance. If the same can be sustained most part of 2024 will be engulfed by the bull run, barring some significantly negative macro or micro event.
b) Considering there is a political stability in the country at least for next 2 to 3 years the best case scenario for Nifty in couple of years time seems to be near 30K+ and worst case scenario seems to be near 24K+.
c) Next long term Fibonacci resistances seem to be near 22268 and 24305 respectively.
d) Fibonacci supports for Nifty seem to be near 20389 and 18687.
e) 50 months EMA for Nifty right now is at 16468 this should be a major support (Mostly Nifty can go there only if there is some global catastrophe or some unlikely event like party expected to win Lok Sabha 2024 loses hands down etc.
Observations:
1) Mid and Small cap have been relatively doing well in recent past coming 2 years can be good for Large cap stocks.
2) It seems that there will be overall growth but secots like Pharma/Healthcare, Infrastructure, FMCG, Capital Goods, Banking and Financials might fare better than IT and Defense have had a long run and might relax a bit for a while.
3) New themes like Clean Energy, Aero-space some other breakthrough technology can disrupt the market space completely.
4) India with it's assertive foreign policy can create and consolidate it's place in global manufacturing.
5) Over all situation seems to be investor friendly. India is in the sweet spot of Global economy. History says that 2 to 5 Trillion USD journey for any of the global economy has had potential to unleash wealth creation for the investors.
Conclusion: We feel those who can lean Techno-Funda Investing / Know Techno-Funda investing will benefit the most during this wealth creation phase.
Question: So how many of you want to learn Techno-funda Analysis and become Aatmanirbhar?
Nifty seems to be moving pretty solidly since 2019 in the long term channel shown in the chart. We have also intersected the chart with fibonacci supports and resistances for the Nifty. The candlesticks used are monthly. The Channel starts from Mid 2019 and extends upto 2026. Top considered for Fibonacci retracement is the pre-covid high and bottom is Covid low. This comprehensive chart gives us various scenarios to study. The same are depicted as under:
a) Nifty is trying to sustain above the mid channel resistance. If the same can be sustained most part of 2024 will be engulfed by the bull run, barring some significantly negative macro or micro event.
b) Considering there is a political stability in the country at least for next 2 to 3 years the best case scenario for Nifty in couple of years time seems to be near 30K+ and worst case scenario seems to be near 24K+.
c) Next long term Fibonacci resistances seem to be near 22268 and 24305 respectively.
d) Fibonacci supports for Nifty seem to be near 20389 and 18687.
e) 50 months EMA for Nifty right now is at 16468 this should be a major support (Mostly Nifty can go there only if there is some global catastrophe or some unlikely event like party expected to win Lok Sabha 2024 loses hands down etc.
Observations:
1) Mid and Small cap have been relatively doing well in recent past coming 2 years can be good for Large cap stocks.
2) It seems that there will be overall growth but secots like Pharma/Healthcare, Infrastructure, FMCG, Capital Goods, Banking and Financials might fare better than IT and Defense have had a long run and might relax a bit for a while.
3) New themes like Clean Energy, Aero-space some other breakthrough technology can disrupt the market space completely.
4) India with it's assertive foreign policy can create and consolidate it's place in global manufacturing.
5) Over all situation seems to be investor friendly. India is in the sweet spot of Global economy. History says that 2 to 5 Trillion USD journey for any of the global economy has had potential to unleash wealth creation for the investors.
Conclusion: We feel those who can lean Techno-Funda Investing / Know Techno-Funda investing will benefit the most during this wealth creation phase.
Question: So how many of you want to learn Techno-funda Analysis and become Aatmanirbhar?
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