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.