Nifty 12 Jun 23 to 16 Jun 23 Short ,Medium and Long Term
Nifty closed at 18563 ( 18535) and touched low & high of 18537 and 18772.
Buy call was given on dip on 21-May-23 at 18181.
The stiff resistance provided (inclined trend line ) for the week 18689 to 18734 acted well.
nifty faced that resistance as expected.
RSI and Stochastic lowered to 60% level from 72-75%.
Nifty- short term is sideways/ short dip.
Nifty support at 18446 ( Fibonacci) / Previous highs at 18274 /18204/18111
Nifty Resistance is at 18620 and inclined trend line (Resistance 18745 to 18786 ) as shown in the chart.
Buy on Dip
Nifty Medium Term -
Nifty expected to break 18620 and to touch previous high of 18890 /19000 in medium term.
Nifty have multiple support for Medium Term - 17865/18000/18111
Long term-
Need to decisively close above 18890 ( Previous Dec22 High) and also the very important resistance ( Red Inclined line shown 19200- 19350)to reach targets of 19500/20000
Support at 17850 /17550 /17200
Long term Investors can accumulate following Mutual Funds
NIFTY 50 & Nifty Equal weight ( 50%)
Nifty Bank & IT (20%)
Nifty Mid Cap ( 20 %)
Nifty Small Cap (10%)
Nifty closed at 18563 ( 18535) and touched low & high of 18537 and 18772.
Buy call was given on dip on 21-May-23 at 18181.
The stiff resistance provided (inclined trend line ) for the week 18689 to 18734 acted well.
nifty faced that resistance as expected.
RSI and Stochastic lowered to 60% level from 72-75%.
Nifty- short term is sideways/ short dip.
Nifty support at 18446 ( Fibonacci) / Previous highs at 18274 /18204/18111
Nifty Resistance is at 18620 and inclined trend line (Resistance 18745 to 18786 ) as shown in the chart.
Buy on Dip
Nifty Medium Term -
Nifty expected to break 18620 and to touch previous high of 18890 /19000 in medium term.
Nifty have multiple support for Medium Term - 17865/18000/18111
Long term-
Need to decisively close above 18890 ( Previous Dec22 High) and also the very important resistance ( Red Inclined line shown 19200- 19350)to reach targets of 19500/20000
Support at 17850 /17550 /17200
Long term Investors can accumulate following Mutual Funds
NIFTY 50 & Nifty Equal weight ( 50%)
Nifty Bank & IT (20%)
Nifty Mid Cap ( 20 %)
Nifty Small Cap (10%)
