Nifty Could Remain in the 17405-17855 Zone in The Near Term

Nifty Trading Zone: “Nifty after falling gap down has formed a hammer like pattern after a fall, suggesting possibility of an upward reversal. Advance decline ratio fell to much below 1:1 suggesting broad based profit taking in the markets.  Nifty could remain in the 17405-17855 zone in the near term,”.

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Nifty May Fall Up To 15,800

After rising from 7,500 to over 18,000, the Nifty has been consolidating since mid-October 2021. Looking at the fall of the last 30 days, it seems like the Nifty could further correct from present levels.

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Nifty Head towards 18,200 in Coming Months [02-02-2022]

We believe the risk-reward has turned favourable for long term investment as majorpart of the price wise correction (8%) is already over. Therefore, investors should use the current volatility in the markets to accumulate qualitystocks as we expect the Nifty to surpass the immediate hurdle of 17600 and eventually headtowards 18200 in coming months.

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