Nifty Short , Medium & Long Term View-20-Nov-23 to 24-Nov-23
Nifty Short , Medium & Long Term View-20-Nov-23 to 24-Nov-23
Nifty closed at 9870 (19525) and touched low & high of 19413 & 19870
Market crossed the inclined resistance line provided at 19550 decisively and moving towards 19800-20000.
19528 Resistance and 19692 Fibonacci resistance provided worked well day before yday&yday.
Again if it crosses 20000 then 20500 is a big resistance as mentioned above.
RSI and stochastics levels nearing the overbought zone.
Nifty- Short Term
Resistance at 19856(Prev. High shown in red color line), 19923( Fib Resistance), 19996 (Prev High Shown in Green Color)
supports at 19528 (Fib Resistance), 19365 (Fib Resistance), 19330 ( Prev.Low shown in Green Color)
Nifty Medium Term & long Term -
Market need to decisively close above 20000 to reach 20500 target.
Resistance 20000/ 20200 ( Prev. HIgh)/ 20500
Support at 19228 ( Prev low).
Long Term
market range bound between 20500 to 18800 till elections are completed.
Oct 23 & NOv-23
Comment :
There will be up/down in india atleast till Mar Apr. 19800- 20500 it will be g it will raise up due to elections. Global Situations( War) still ongoing. crude pricehave recovered from steep and lowered to 80$.
Same thing happened in 2014, crude price trend, economy related issues till Pre poll survey-Election/ May 2014 and the crude fell after that drastically and economy of all countries started recovering, hence expect more volatality in markets till pre poll survey.
As far as results are concerned little average except banks. Companies are affected by interest rates and to move a notch above the sequential previous Quarter ( i.e results are flattening).
Q2 & Q3 Results Pre Budget in Feb and followed by q4 results also will give a path.
This also will lead to high volatality in coming weeks.
Market going to be highly volatile, please read the comments at bottom. As mentioned before ( past 1 month) continue to book 30% profit in the high valued stocks invest in value stocks.
Banks gave good results except HDFC bank due to merger. Capital Goods and other companies posted average to average results. most of the stock screening shows to buy banks and NBFCs. only few stocks from capital goods and other stocks are showing promising results. pharma stocks gave outstanding returns and it is just starting. Stock Pick based on the Q2 result and projected growth of the stock is necessary.
Nifty closed at 9870 (19525) and touched low & high of 19413 & 19870
Market crossed the inclined resistance line provided at 19550 decisively and moving towards 19800-20000.
19528 Resistance and 19692 Fibonacci resistance provided worked well day before yday&yday.
Again if it crosses 20000 then 20500 is a big resistance as mentioned above.
RSI and stochastics levels nearing the overbought zone.
Nifty- Short Term
Resistance at 19856(Prev. High shown in red color line), 19923( Fib Resistance), 19996 (Prev High Shown in Green Color)
supports at 19528 (Fib Resistance), 19365 (Fib Resistance), 19330 ( Prev.Low shown in Green Color)
Nifty Medium Term & long Term -
Market need to decisively close above 20000 to reach 20500 target.
Resistance 20000/ 20200 ( Prev. HIgh)/ 20500
Support at 19228 ( Prev low).
Long Term
market range bound between 20500 to 18800 till elections are completed.
Oct 23 & NOv-23
Comment :
There will be up/down in india atleast till Mar Apr. 19800- 20500 it will be g it will raise up due to elections. Global Situations( War) still ongoing. crude pricehave recovered from steep and lowered to 80$.
Same thing happened in 2014, crude price trend, economy related issues till Pre poll survey-Election/ May 2014 and the crude fell after that drastically and economy of all countries started recovering, hence expect more volatality in markets till pre poll survey.
As far as results are concerned little average except banks. Companies are affected by interest rates and to move a notch above the sequential previous Quarter ( i.e results are flattening).
Q2 & Q3 Results Pre Budget in Feb and followed by q4 results also will give a path.
This also will lead to high volatality in coming weeks.
Market going to be highly volatile, please read the comments at bottom. As mentioned before ( past 1 month) continue to book 30% profit in the high valued stocks invest in value stocks.
Banks gave good results except HDFC bank due to merger. Capital Goods and other companies posted average to average results. most of the stock screening shows to buy banks and NBFCs. only few stocks from capital goods and other stocks are showing promising results. pharma stocks gave outstanding returns and it is just starting. Stock Pick based on the Q2 result and projected growth of the stock is necessary.
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