Nifty 27 Mar 23 to 31 Mar 23 Short ,Medium and Long Term
Nifty touched a high of 17530 and low of 16850.
Nifty closed at 16945 (Prev Close 17100).
As per the last week call, Nifty went down and tested 16923.
RSI , stochastic and MACD still at oversold zone and yet to recover / Cross the Signal / Moving Average.
Nifty might fall further as there is monthly expiry, Financial year end profit/Loss booking and Global issues.
Nifty(16945) short term - Go short
Nifty Resistance at 17200/17465
Nifty Support at 16764/16697 (inclined trend line - Green Color)
Nifty Medium Term -
Nifty need to break decisively above 17465 to reach 17800-17900
If not, Nifty might fall below 16764 to reach 16400/16300 Zone where there are next support.
Long term - Buyable if there is any dip
Target Nifty Resistance 17800-17900/ 18109(sep high) / 18122(0.5 fib new) /18268 (Dec22 end Jan23 high)
In case if it falls below 16300, then market may go down to 15900.
Long term Investors if there is a fall in market, following Mutual Funds can be accumulated
NIFTY 50 Equal weight ( 16945 buyable at 16300 until 15900),
Bank Nifty ( 39395 buyable at 38620/38160)
Nifty IT ( 27935 buyable at 27400/27000)
Nifty touched a high of 17530 and low of 16850.
Nifty closed at 16945 (Prev Close 17100).
As per the last week call, Nifty went down and tested 16923.
RSI , stochastic and MACD still at oversold zone and yet to recover / Cross the Signal / Moving Average.
Nifty might fall further as there is monthly expiry, Financial year end profit/Loss booking and Global issues.
Nifty(16945) short term - Go short
Nifty Resistance at 17200/17465
Nifty Support at 16764/16697 (inclined trend line - Green Color)
Nifty Medium Term -
Nifty need to break decisively above 17465 to reach 17800-17900
If not, Nifty might fall below 16764 to reach 16400/16300 Zone where there are next support.
Long term - Buyable if there is any dip
Target Nifty Resistance 17800-17900/ 18109(sep high) / 18122(0.5 fib new) /18268 (Dec22 end Jan23 high)
In case if it falls below 16300, then market may go down to 15900.
Long term Investors if there is a fall in market, following Mutual Funds can be accumulated
NIFTY 50 Equal weight ( 16945 buyable at 16300 until 15900),
Bank Nifty ( 39395 buyable at 38620/38160)
Nifty IT ( 27935 buyable at 27400/27000)
