Nifty 19 Jun 23 to 23 Jun 23 Short ,Medium and Long Term
Nifty closed at 18826 ( 18563) and touched low & high of 18561 and 18862.
Buy call was given on dip on 21-May-23 at 18181.
The stiff resistance provided (inclined trend line ) for the week 18745 to 18786 acted well, on the last day of the week, nifty broke the weekly resistance on a decisive note.
RSI and Stochastic level raised to 65% and 85% respectively.
Nifty- expected to cross prev. High 18890, short term is sideways/ short dip expected after touching 19060/19100 as shown inclined line (blue color) which will act as resistance for short term.
Can book some profits at this level. Sell overvalued stocks.
Nifty support at 18620
Nifty Medium Term -
Nifty expected to break 19100 and to touch 19200-19350( red inclined resistance) in medium term. But as mentioned above after a dip.
Support - 18446 ( Fibonacci).
Long term-
Need to decisively close above 19350 to reach targets of 19500/20000
Nifty have multiple support for long Term - 17865/18000/18111
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 18826 ( 18563) and touched low & high of 18561 and 18862.
Buy call was given on dip on 21-May-23 at 18181.
The stiff resistance provided (inclined trend line ) for the week 18745 to 18786 acted well, on the last day of the week, nifty broke the weekly resistance on a decisive note.
RSI and Stochastic level raised to 65% and 85% respectively.
Nifty- expected to cross prev. High 18890, short term is sideways/ short dip expected after touching 19060/19100 as shown inclined line (blue color) which will act as resistance for short term.
Can book some profits at this level. Sell overvalued stocks.
Nifty support at 18620
Nifty Medium Term -
Nifty expected to break 19100 and to touch 19200-19350( red inclined resistance) in medium term. But as mentioned above after a dip.
Support - 18446 ( Fibonacci).
Long term-
Need to decisively close above 19350 to reach targets of 19500/20000
Nifty have multiple support for long Term - 17865/18000/18111
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%)
