Nifty Long term Analysis || Nifty has taken support at 200-D EMA

31 Okt 2023

Good Morning traders and Investor.

Hello Guy's i have come through my analysis that, if Nifty hold this recent lows (18837) then there is higher probability, we can see nifty towards all time high in coming months. Why i am telling all this, because Nifty has taken exactly support at 200 Day EMA, this is a positive indication that, nifty will fly from here, i mean there is some hurdles in between but overall nifty will cross all hurdle and will go towards all time high. If nifty able to reclaim 19250 above levels successfully then huge one sided momentum can be seen on chart.

November Month option data also suggesting 19000 Levels is going to act strong support zone for nifty in November Month, as highest OI data has seen on 19000 Put is (5430750), and PCR showing (2.08), it's a clear view that, a higher upside momentum is expected in coming next month.
So guy's our strategy should be in market to buy on dips, if you observe in yesterday session, First nifty had opened flat and then it has made low at 18940 and then it has given a huge rally from bottom and made day's high at 19158 and then we have seen closing at 19140. So this is a clear indication that any dip in market is going to become a huge opportunity to accumulate more in downlevels.

Important Levels for Nifty in coming months:-

Accumulate in between 19200-19050,
keep stop loss at 18745
Targets will be 19524/19856/20216.

Note:- Always wait for the best entry or levels to execute trades. And always follow strict stop loss to save your capital from unexpected market direction.

Disclaimer:- Please always do your own analysis or consult with your financial advisor before taking any kind of trades.

Dear traders, If you like my work then do not forget to hit like and follow me, and guy's let me know what do you think about this idea in comment box, i would be love to reply all of you guy's.
Thankyou

15 Nov 2023

Nota

wow, we are above our 1st target