Nifty Short, Medium and Long Term review - 18-Sep-23 to 22-Sep-2
Updated
Nifty Short, Medium and Long Term review - 18-Sep-23 to 22-Sep-23
Nifty closed at 20192(19822) and touched low & high of 19854 and 20219.
Nifty long call was given two weeks before. As expected nifty moved up above 20000 & 20150.
RSI and Stochastic level rised from 72 to 76 % & 93 to 96% respectively.
Stochastic currently in overbought zone for last two weeks. RSI- There is chance for one more move up.
Nifty- Short Term ( Neutral)
If market move above 20200
Resistance at 20450 ( Fib 1.618 Resistance Shown) and also crucial resistance around 20500 (Shown in Red Vertical Line- That is difference from Pre Covid High to Covid Bottom correlated from the pre Covid high).
Support - 19800 ( Trend line Support shown in Blue Color Wave Line)
Profit Booking can be started on Stocks and Mutual Funds where held more than 1 year and which is up. 10-30% can be booked.
Nifty Medium Term & long Term -
As market in overbought zone there will be a correction.
If market decisively break above 20500 then 20800 ,21000 & 21150 are the target for long term.
Further to review the Q2 results. To review once Nifty reaches target.
Resistance at 18800
Stocks to pick (Buy on Dip) for Long Term by on Staggered way :
Disclaimer: For analysis purpose only. Many stocks raised considerably in last three weeks.
Buy on dip SBI & ICICI Bank , Axis Bank given on 13-Aug-23, all three stocks are up, especially ICICI and Axis Bank increased well.
CIE Automotive (RS 507) call was given at 473, buy on dip for Medium term outlook .
Other buy Calls provided on 25-Jun-23 ( Whatever > 10% up can be sold ) :
HDFC Bank , L&T Tech ( 23% up), KPIT (13% Up ), PI Ind , Dr Reddys ( 16% Up), Ujjvan Small Fin (25 %), Route Mobile, Bank of Maharashtra ( 62 %), Andhra Paper(50%) Accelya Solutions (15% up)
Nifty closed at 20192(19822) and touched low & high of 19854 and 20219.
Nifty long call was given two weeks before. As expected nifty moved up above 20000 & 20150.
RSI and Stochastic level rised from 72 to 76 % & 93 to 96% respectively.
Stochastic currently in overbought zone for last two weeks. RSI- There is chance for one more move up.
Nifty- Short Term ( Neutral)
If market move above 20200
Resistance at 20450 ( Fib 1.618 Resistance Shown) and also crucial resistance around 20500 (Shown in Red Vertical Line- That is difference from Pre Covid High to Covid Bottom correlated from the pre Covid high).
Support - 19800 ( Trend line Support shown in Blue Color Wave Line)
Profit Booking can be started on Stocks and Mutual Funds where held more than 1 year and which is up. 10-30% can be booked.
Nifty Medium Term & long Term -
As market in overbought zone there will be a correction.
If market decisively break above 20500 then 20800 ,21000 & 21150 are the target for long term.
Further to review the Q2 results. To review once Nifty reaches target.
Resistance at 18800
Stocks to pick (Buy on Dip) for Long Term by on Staggered way :
Disclaimer: For analysis purpose only. Many stocks raised considerably in last three weeks.
Buy on dip SBI & ICICI Bank , Axis Bank given on 13-Aug-23, all three stocks are up, especially ICICI and Axis Bank increased well.
CIE Automotive (RS 507) call was given at 473, buy on dip for Medium term outlook .
Other buy Calls provided on 25-Jun-23 ( Whatever > 10% up can be sold ) :
HDFC Bank , L&T Tech ( 23% up), KPIT (13% Up ), PI Ind , Dr Reddys ( 16% Up), Ujjvan Small Fin (25 %), Route Mobile, Bank of Maharashtra ( 62 %), Andhra Paper(50%) Accelya Solutions (15% up)
Note
Short Term Support at 20140 / 20000 / 19800
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.