If you recall last week I had mentioned, “…. It is therefore obvious that retail money needs to come back big time for the markets to get into a bullish stride once again.” Another redeeming factor has been the slow but steady recovery in the midcap space that was missing for a while. While we need to really see more momentum kicking in to take these indices higher, the trends seen last week has lent some color to the sentiment. Mid-cap index is closer to the breakout zone and should be checked first for some market action.
Nifty Future
Today Nifty Poised For Bull Rally To 18,000-24,000, Say Two Technical Analysis
India’s Nifty 50 index has emerged from lows and is set for a rally that may go beyond 18,000 levels to as high as 24,000, according to technical analysis projections of two brokerages.
Sensex, Nifty Close Little Changed In A Volatile Session
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.
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 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.”
Nifty Target Price 16,900 Levels By Year-End
Nifty Target Price: Nifty can head to 16,900 levels by the end of 2022 even as inflation and growth prospects remain a concern.