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Nifty Outlook For 2023 1st HalfMarket Outlook: Initial phase of 2023 will continue to pose challenges to investors. Indications are that Volatility will remain persistently along with challenges related to inflation and Geo-Political issues. It has been observed that COVID is also as persistent as inflation and a wave or a variant continues to return every Six or Eight months. These probably interconnected issues of Inflation, Geo-politics and COVID will continue to keep investors on toes. When the situation will stabilize? Well your guess is as good as mine. We cannot say for sure. Lot of analyst and international bankers feel that towards Second half of the year situation will be better than what it is now. Medium Term Target for Nifty for the year 2023 is 19004. Important Supports: 18084, 17815 and 17456. Important Resistances: 18301, 18473 and 18738.
NSE:NIFTY
by Happy_Candles_Investment
2
Elliott Wave View: Nifty Pullback Should Find BuyersCycle from March 2020 low in Nifty remains in play as a 5 waves impulse Elliott Wave structure. In the chart below, we can see wave ((3)) of the impulse ended at 14653.35. Wave ((4)) pullback has also ended at 13597.81. The internal subdivision of wave ((4)) unfolded as an Expanded Flat structure. Down from wave ((3)), wave (A) ended at 14222.80, wave (B) ended at 14752.80, and wave (C) of ((4)) ended at 13597.81. The Index has resumed to new high above wave ((3)) suggesting the next leg higher in wave ((5)) has started. Up from wave ((4)), wave 1 ended at 13906.1 and pullback in wave 2 ended at 13778.30. Index then resumed higher in wave 3 towards 15014.65 and pullback in wave 4 ended at 14864.75. Expect Index to end wave 5 soon and this should complete wave (1) of ((5)) in higher degree. Index then should pullback in wave (2) to correct cycle from January 29, 20201 low before the rally resumes. As far as wave ((4)) low pivot at 13597.81 stays intact, expect dips to find support in 3, 7, or 11 swing for further upside.
NSE:NIFTY
by Elliottwave-Forecast
NIFTY analysis for coming week, 52nd week from 6825. Price is at important point structurally, as we are making double top with 8968 top. Another observation is we are having divergence on MACD. Current week is an important week on time analysis, we are completing 365 days that is one year from 6825 low. If you will observe the same on weekly chart then approximately in 365 days from earlier small or big top or bottom we will form next small or big top or bottom. In weeks terms this is 52 weeks, another example of magic of number 52. :-) On zone analysis-- Zone above the price is till 9119, any long trade can be taken only if price closes above 9119. We can see that zones are nearby which can lead to more volatility if we move down. Traders need to be alert in such moves. Up on closing above 9119 price pont we will move in new area of trading where zones will not help us, in such areas we will have to take help of Market structure, Fibonacci and trailing of stops. 127% of earlier move will be important price point. On channel analysis-- Channels are marked on the chart, traders can take help or even trade the channels if they want. Make sure that you back test such policies and understand how price responds to price channels.
NSE:NIFTY
by dhananjay.d.joshi
5