Nifty 17 Apr 23 to 21 Apr 23 Short ,Medium and Long Term

Nifty 17 Apr 23 to 21 Apr 23 Short ,Medium and Long Term

Nifty touched a high of 17638 and low of 17610.
Nifty closed at 17828 (Prev Close 17601).
Nifty Crossed crucial resistance of 17690 last week.

Medium Term call for buy on dips worked well
Nifty Bank, Nifty IT and Nifty 50 increased by 5% from low. Especially Nifty bank surpassed ( 7.5%) other indices.
Buy call was given for all the above indices a month back on dips.

RSI, stochastic and MACD in near top zone.

Nifty- short term is Positive.

Nifty small Resistances at 17859 ( Fibonacci 50% retracement)/17867 ( Inclined Trend Line Resistances )
Above these resistances next target at 18000/18100
Nifty firm support at 17500-17457

Nifty Medium Term -

Nifty need to break decisively above first target 18217 , next target of 18437 ( Fibonacci 0.786 Retracement) followed by prev high 18890.

Nifty Support at 17180/17200/17252

Long term-

Need to decisively close above 18890 ( Previous Dec22 High) to reach targets of 19000/19500/20000

long term support at 16746 ( Sep22 Low)

Long term Investors can accumulate following Mutual Funds
NIFTY 50 Equal weight
Bank Nifty
Nifty IT