Sensex / Nifty Future Forecast: India’s stock benchmarks closed little unchanged in a volatile session as gains in capital goods and industrials stocks were offset by losses in energy, oil and gas and metals.
Sensex / Nifty Future
Sensex / Nifty Future
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Nifty Weekly Forecast: Inflection Point Coming Up
Nifty Weekly Forecast: Even though no one wanted it, everyone was waiting for it! The dip, I mean. Friday’s trading confirmed the fears that most were harbouring, that the market was ‘due’ for a decline. As though it was some train that had got delayed or something. So, when it showed, everyone was, like, ‘I told you so’. Now, will come the next set of comments, predictions, new questions etc. But before all that, let’s just take a look at what has transpired so far during the week. The first chart details the intra-week move.
Nifty 50 May Hit Target Price 18,400 By August-End
Nifty 50 Forecast: India’s benchmark stock index Nifty 50 may rally to 18,400 by August-end on improving macro events, according to technical analyst Gautam Shah.
Nifty Weekly Forecast: Above 16900 Target 17400—17800 [Buy on Dips]
Nifty Weekly Forecast: Unlike the earlier week, this one was a lot more ranged. But as the index managed to tick a bit higher, people didn’t really mind that it ranged. So long as the overall bias was maintained to the upside, most people are happy. When people are happy, the breadth widens and participation increases.
Nifty Weekly Forecast: Very Soon Hitting Resistance Zones
There shall be no disagreement about how the market performed last week. It has been a long time since we saw a whole week of advances. Look at the layout on the intraday chart of the move in the first chart. A straight rise with big gaps in favour of bulls. Those helping hands were from overseas events of course. But who is complaining? Not me, for sure!
Nifty Future Weekly Technical Forecast [16-07-2022]
The week ended was a disappointment after the strong showing of the earlier week. We finished that one well but could not see any follow-through price action in this one. You can attribute it entirely to the goings-on in the United States market. Suddenly, it seems that everyone has made U.S. inflation our problem. Reminds me of a line I read recently, ‘the Dollar may be ours but the problem is yours’ said someone out of the US, and no truer word was spoken! The Dollar Index charged up to 20-year highs, decimating many a global currency in its wake, one of which was our very own Rupee.
Nifty Future Buy Zone Price 16,000—15,900 [Buy On Dips]
Writing in the column on June 25, I said, “…a possible point of forming a durable bottom. This straightaway means that the June 17 low should not be broken with any degree of conviction – meaning a bit of a poke here and there should be fine. With that as a caveat, we can now start thinking of longs as a clear stop-loss zone is available.”