Nifty Short, Medium & Long Term : 04-Nov-24 to 08-Nov-24
Nifty Short, Medium & Long Term : 04-Nov-24 to 08-Nov-24
Nifty closed at 24304(Last week 24192) and touched high & low of 24498-24134
RSI ,Macd and stochastics levels are still down at the bottom.
Last week Market continue to be down and narrow rangebound.
Caution was emphasized on Nifty for last 4 months as nifty PE ( Currently 22.6) is in high level with high valuation especially in Mid cap & Small Cap. Mutual Funds SIP shall be invested as the goal is for more than 5-10 years at this critical period as the valuation is high and advised those with lesser risk can sell partial portfolio ( 20-30%) stocks which have less valuation and can wait for opportunity to buy when nifty dips upto 22800.
Fundamentally good stocks to be invested at these time. My Stock analysis of diwali recommendation from major financial agencies and also some of the stock which is good as per my analysis will be provided upon request. DM : karthik_ss ( Twitter) . Individual need to analyse on their own.
Nifty 24304 Short term ( Short Term : Neutral)
Nifty short term resistance 24458 ,24805 & 25370
Support at 24000, 23885
Medium Term next target is 25750 ( if move up decisively above next target is 25370), 26268 ( all time high), 26968
Medium term Support 22800.
Long Term : Nifty have a target of 27740, 28000 & 28190 ( Fibonacci Resistance).
Support at 21900
Nifty closed at 24304(Last week 24192) and touched high & low of 24498-24134
RSI ,Macd and stochastics levels are still down at the bottom.
Last week Market continue to be down and narrow rangebound.
Caution was emphasized on Nifty for last 4 months as nifty PE ( Currently 22.6) is in high level with high valuation especially in Mid cap & Small Cap. Mutual Funds SIP shall be invested as the goal is for more than 5-10 years at this critical period as the valuation is high and advised those with lesser risk can sell partial portfolio ( 20-30%) stocks which have less valuation and can wait for opportunity to buy when nifty dips upto 22800.
Fundamentally good stocks to be invested at these time. My Stock analysis of diwali recommendation from major financial agencies and also some of the stock which is good as per my analysis will be provided upon request. DM : karthik_ss ( Twitter) . Individual need to analyse on their own.
Nifty 24304 Short term ( Short Term : Neutral)
Nifty short term resistance 24458 ,24805 & 25370
Support at 24000, 23885
Medium Term next target is 25750 ( if move up decisively above next target is 25370), 26268 ( all time high), 26968
Medium term Support 22800.
Long Term : Nifty have a target of 27740, 28000 & 28190 ( Fibonacci Resistance).
Support at 21900
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