Nifty 24 Apr 23 to 02 May 23 ST,MT, LT review
Nifty 24 Apr 23 to 2 Mayr 23 Short ,Medium and Long Term
Nifty touched a high of 17865 just below the resistance mentioned last week ( 17867) and touched low of 17577
Nifty closed at 17624 (Prev Close 17828).
RSI, 66 % and dropped to 55%. MACD is above MACD signal and Stochastic touched 100% and dipped to 75% from last week.
Nifty- short term is PNeutral.
Nifty small Resistances at 17859 ( Fibonacci 50% retracement)/17867 ( Inclined Trend Line Resistances )
Above these resistances next target at 18000/18100
Nifty support at 17570/17530/17387- 17340 for the week ( Inclined two trend line)
Nifty Medium Term -
Nifty need to break decisively above first target 18217 , next target of 18437 ( Fibonacci 0.786 Retracement) followed by prev high 18890.
Nifty Support at 17180/17200/17252
Long term-
Need to decisively close above 18890 ( Previous Dec22 High) to reach targets of 19000/19500/20000
long term support at 16746 ( Sep22 Low)
Long term Investors can accumulate following Mutual Funds
NIFTY 50 Equal weight
Bank Nifty
Nifty IT
Nifty touched a high of 17865 just below the resistance mentioned last week ( 17867) and touched low of 17577
Nifty closed at 17624 (Prev Close 17828).
RSI, 66 % and dropped to 55%. MACD is above MACD signal and Stochastic touched 100% and dipped to 75% from last week.
Nifty- short term is PNeutral.
Nifty small Resistances at 17859 ( Fibonacci 50% retracement)/17867 ( Inclined Trend Line Resistances )
Above these resistances next target at 18000/18100
Nifty support at 17570/17530/17387- 17340 for the week ( Inclined two trend line)
Nifty Medium Term -
Nifty need to break decisively above first target 18217 , next target of 18437 ( Fibonacci 0.786 Retracement) followed by prev high 18890.
Nifty Support at 17180/17200/17252
Long term-
Need to decisively close above 18890 ( Previous Dec22 High) to reach targets of 19000/19500/20000
long term support at 16746 ( Sep22 Low)
Long term Investors can accumulate following Mutual Funds
NIFTY 50 Equal weight
Bank Nifty
Nifty IT
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