Nifty 01-Nov-2022 to 05-Nov-2022 (Mid term Analsysis & views)
Short Term target of 17800-17900 was given last week, nifty comfortably crossed the Ist Target on 3rd day.
For the coming week, go long strategy shall be adapted for Short term and Mid term.
Target / Resistance : 17/812 (0.786 Fibonacci New) , 17871 (0.786 Finonacci May22), 17994 & 18100 will be key resistance this week.
If it surpasses decisively then 18350-18450 ( Trend line target) , target shall be 18600 ( Previous High).
Short Term Target : 18000/18100/
Mid Term Target :18400 / 18600
On the other side, for the support side,
Support: 17565 will be initial support
17421 (0.5 Fibonacci new), 17350 ( trend line) will be major support on the down side.
Between 17250- 17300 there are many support under this band.
Overall Mid term support is at 17000/16750
Short Term target of 17800-17900 was given last week, nifty comfortably crossed the Ist Target on 3rd day.
For the coming week, go long strategy shall be adapted for Short term and Mid term.
Target / Resistance : 17/812 (0.786 Fibonacci New) , 17871 (0.786 Finonacci May22), 17994 & 18100 will be key resistance this week.
If it surpasses decisively then 18350-18450 ( Trend line target) , target shall be 18600 ( Previous High).
Short Term Target : 18000/18100/
Mid Term Target :18400 / 18600
On the other side, for the support side,
Support: 17565 will be initial support
17421 (0.5 Fibonacci new), 17350 ( trend line) will be major support on the down side.
Between 17250- 17300 there are many support under this band.
Overall Mid term support is at 17000/16750