Nifty 21-Nov-22 to 25-Nov-22 (Short Term & Medium Term Analysis)
Nifty closed at 18307 from 18349
RSI 50.17 ( 68.8 Prev Week), MACD 27.68 ( 77.2 Prev Week), MACD Signal 53.2 ( 63 Prev Week), Stochastics %D 21.32 ( 85 Prev Week) %K 53.2 (63 Prev Week)
Stochastics signal at Oversold region is a positive sign on short term/ weekly basis.
Go neutral ( Short Term) strategy as market could not cross 18450-18600 range and struggled moving up.
Resistance : 18443/ 18560 ( Trend Line) / 18604 prev year high
Support : 18218 ( Trend Line & MA 50) / 18080 (Fibonacci 0.786 New) / 17995 (Prev Aug 22 High)/ 17870 (Fibonacci 0.786 Old) / 17795 (Fibonacci 0.618 New)
Short Term : Retaining Neutral strategy ( Suggested last week), There is a strong support at 17800- 18000 Zone with multiple support as explained above, hence there is a sign of reversal.
Buy Nifty / Portfolio Stocks on dip in this zone.
Initial targets are shown as resistance above ( 18400-18600).
Medium Term/ Long Term : Looks attractive especially decisive close above 18600 can take take nifty to 19400-19500.
Long term support 17300-17550
As mentioned last week, Sell 30 % of the equities. Use the Opportunity to review the portfolio and clean up based on forward PE. Also opportunity to buy good stocks.
Nifty closed at 18307 from 18349
RSI 50.17 ( 68.8 Prev Week), MACD 27.68 ( 77.2 Prev Week), MACD Signal 53.2 ( 63 Prev Week), Stochastics %D 21.32 ( 85 Prev Week) %K 53.2 (63 Prev Week)
Stochastics signal at Oversold region is a positive sign on short term/ weekly basis.
Go neutral ( Short Term) strategy as market could not cross 18450-18600 range and struggled moving up.
Resistance : 18443/ 18560 ( Trend Line) / 18604 prev year high
Support : 18218 ( Trend Line & MA 50) / 18080 (Fibonacci 0.786 New) / 17995 (Prev Aug 22 High)/ 17870 (Fibonacci 0.786 Old) / 17795 (Fibonacci 0.618 New)
Short Term : Retaining Neutral strategy ( Suggested last week), There is a strong support at 17800- 18000 Zone with multiple support as explained above, hence there is a sign of reversal.
Buy Nifty / Portfolio Stocks on dip in this zone.
Initial targets are shown as resistance above ( 18400-18600).
Medium Term/ Long Term : Looks attractive especially decisive close above 18600 can take take nifty to 19400-19500.
Long term support 17300-17550
As mentioned last week, Sell 30 % of the equities. Use the Opportunity to review the portfolio and clean up based on forward PE. Also opportunity to buy good stocks.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.