Nifty 13 Feb 23 to 17 FEB 23 Short ,Medium and Long Term
Nifty 13 Feb 23 to 17 FEB 23 Short ,Medium and Long Term
Nifty closed at 17856 ( Prev close 17754)
Neutral Strategy was given Last week and as expected market didnt showed any sign to move upwards for the week.
Nifty touched a low of 17662 last week.
Market may further move sidewards for few more weeks for decisive movement either upwards or downwards.
Though the RSI, Stochastic and MACD are in positive zone, the key trend line ( Resistances ) yet to break inorder to move up.
To continue Short Term Strategy is Neutral
Nifty short term
Nifty will be in range bound from 17300 to 18268 in short term.
Nifty support at 17819(0.5 fib old) /17785(feb22 high) /17716/17566/17435(dark red color horizontal line) /17355(new low) /17314 MA200.
Nifty Resistance will be at 17900/18000(Aug high) /18109(sep high) / 18122(0.5 fib new) /18268 (Dec22 end Jan23 high) /18355(Jan22 High)
Nifty will be range bound in short term from 17300 to 18268. Like previous week, this support levels are shown in Green & Red thick Horizontal lines.
Nifty need to break decisively above 18268 to reach 18800-18900 in short term.
Medium term target
Medium term target is 18900
In case if it falls below 17300, then next support is at 16800, which will act as major support.
Long term
Target 19500/20500 still in intact.
Nifty closed at 17856 ( Prev close 17754)
Neutral Strategy was given Last week and as expected market didnt showed any sign to move upwards for the week.
Nifty touched a low of 17662 last week.
Market may further move sidewards for few more weeks for decisive movement either upwards or downwards.
Though the RSI, Stochastic and MACD are in positive zone, the key trend line ( Resistances ) yet to break inorder to move up.
To continue Short Term Strategy is Neutral
Nifty short term
Nifty will be in range bound from 17300 to 18268 in short term.
Nifty support at 17819(0.5 fib old) /17785(feb22 high) /17716/17566/17435(dark red color horizontal line) /17355(new low) /17314 MA200.
Nifty Resistance will be at 17900/18000(Aug high) /18109(sep high) / 18122(0.5 fib new) /18268 (Dec22 end Jan23 high) /18355(Jan22 High)
Nifty will be range bound in short term from 17300 to 18268. Like previous week, this support levels are shown in Green & Red thick Horizontal lines.
Nifty need to break decisively above 18268 to reach 18800-18900 in short term.
Medium term target
Medium term target is 18900
In case if it falls below 17300, then next support is at 16800, which will act as major support.
Long term
Target 19500/20500 still in intact.
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