Nifty 29 May 23 to 02 Jun 23 Short ,Medium and Long Term
Nifty closed at 18499 ( 18203) and touched low of 18183.
Nifty touched high of 18509.
Nifty clearly moved up decisively above resistances mentiomed below though it bottomed out to 18061 in the previous week.
Buy call was given on dip on 21-May-23.
nifty followed the band resistance provided for last three- four weeks ( as mentioned below) and 3-4 days the resistance acted as support.
18111/18204/18274 ( Prev Highs Shown in thick red , blue and green horizontal lines).
Nifty broke resistance of 18274 and clearly moved above and closed near to 18500.
RSI ,MACD and Stochastic have crossed the signals and at peak with Further room to move upwards.
Nifty- short term is Neutral to Long.
Need to decisively close above 18620
Nifty support at 18111/18204/18274
Buy on Dip
Nifty Medium Term -
Nifty expected to break 18620 and to touch previous high of 18890.
Nifty have multiple support for Medium Term - 17865/18000/18111
Long term-
Need to decisively close above 18890 ( Previous Dec22 High) to reach targets of 19000/19500/20000
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 18499 ( 18203) and touched low of 18183.
Nifty touched high of 18509.
Nifty clearly moved up decisively above resistances mentiomed below though it bottomed out to 18061 in the previous week.
Buy call was given on dip on 21-May-23.
nifty followed the band resistance provided for last three- four weeks ( as mentioned below) and 3-4 days the resistance acted as support.
18111/18204/18274 ( Prev Highs Shown in thick red , blue and green horizontal lines).
Nifty broke resistance of 18274 and clearly moved above and closed near to 18500.
RSI ,MACD and Stochastic have crossed the signals and at peak with Further room to move upwards.
Nifty- short term is Neutral to Long.
Need to decisively close above 18620
Nifty support at 18111/18204/18274
Buy on Dip
Nifty Medium Term -
Nifty expected to break 18620 and to touch previous high of 18890.
Nifty have multiple support for Medium Term - 17865/18000/18111
Long term-
Need to decisively close above 18890 ( Previous Dec22 High) to reach targets of 19000/19500/20000
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%)
