Nifty Short, Medium and Long Term review-16-Oct-23 to 20-Oct-23
Nifty closed at 19751 (19655)and touched low & high of 19483 and 19871.
RSI levels 953%) slightly improved and stochastics 83% in overbought zone.
Nifty was holding the inclined trend support provided at 19400 levels last week.
Nifty in a highly volatile market due to global situation and awaiting Q2 results to take a defined path.
Nifty- Short Term (Neutral- Sideways movement with below mentioned support & resistance zone)
Strong Support at Fib resistance at 19320/19445
Also there is a support at 19224 (Previous Low)
Resistance at 19840/19990 ( Fibonnoci resistance )
Nifty Medium Term & long Term -
As market in overbought zone there will be a correction.
Resistance at 20221 ( Prev High ) / 20500
Further to review the Q2 results. To review once Nifty reaches target.
Strong Resistance at 18800.
Nifty closed at 19751 (19655)and touched low & high of 19483 and 19871.
RSI levels 953%) slightly improved and stochastics 83% in overbought zone.
Nifty was holding the inclined trend support provided at 19400 levels last week.
Nifty in a highly volatile market due to global situation and awaiting Q2 results to take a defined path.
Nifty- Short Term (Neutral- Sideways movement with below mentioned support & resistance zone)
Strong Support at Fib resistance at 19320/19445
Also there is a support at 19224 (Previous Low)
Resistance at 19840/19990 ( Fibonnoci resistance )
Nifty Medium Term & long Term -
As market in overbought zone there will be a correction.
Resistance at 20221 ( Prev High ) / 20500
Further to review the Q2 results. To review once Nifty reaches target.
Strong Resistance at 18800.
