Nifty Medium Term Outlook:
Nifty saw a good closing on Friday as it closed comfortably above 22K at 22040. The closing today has opened the channel going towards new All Time High (ATH) and perhaps go further up as well. The previous ATH that is 22126. The top of the channel seems to be near 23369 but Nifty will take a lot of time to reach there and lot of local...
There are two trend triangles formed in the daily chart of Nifty. The larger triangle indicates the long term target for Nifty at 23098. The triangle within that which indicates the medium term range or target of Nifty tells us that current rally can peak near 22326. In the process of reaching these targets the support zones are indicated by the green lines and...
Strong closing on Friday and a good budget have increased the hopes of a post budget rally in Nifty investors are hoping that the worst of Hindenburg-Adani Saga is behind us and the momentum gained on Friday can continue further.
In any case in the medium to Long term target of Nifty is Point B shown in the chart which is around 18800 and 19,000. How Nifty...
NIFTY is facing stiff resistance near its new peak of 18887.6. Global cues are not supporting and Nifty is looking for support. It will be fair enough if Nifty comes down slightly searching for support. Outcome of Monetary policy meet started this week is expected around 7th December. We also have upcoming Assembly Election results which can defy Global cues and...
Nifty is in the process of forming bottom if it is successful then we can see a relief rally for here in case we are not able of make a bottom we may see further slide. Long term projection up to April 2023 shows the following levels:
Resistance Level: 17335, 17799, 18076, 18369 and finally 18600. Best case scenario 20,000+.
Support Level: 16883, 16114,...
Nifty confirmed support at 15180-191 range and pushed ahead. Time will tell if this is a temporary or permanent support but for now a closing on Friday above 15650 levels is a good sign for now. Closing above near term resistance of 15750 would have been even better but current closing is also not bad. Support and resistances in the near term are as under:
Nifty...
