Buy Nifty Above 15500, Target Price 16000—16200 [Buy on Dips]

Buy Nifty Above 15500, Target Price 16000—16200 [Buy on Dips]

Nifty Future Forecast: This line from last week’s column is important to note right at the outset. “…while there is evidence of some lows being made, the pace of advance may be quite slow and may even suffer repeated retests of the low. So, we should expect a choppy market that attempts to create higher bottoms ahead as it builds up for a bigger move.

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Nifty, Sensex continue to fall for sixth consecutive day, broader markets fall

Nifty Weekly Technical Forecast By Neal Bhai [23-05-2022]

Nifty Weekly Technical Forecas: Traders continue getting tossed around by the market. We started weak, rallied up, then gave it all back, only to rally back again by the end of the week. So, the saga of volatility continues. Intra-week trading remained very difficult as gaps and lack of a follow-through kept taking a toll on whatever positions were created. The VIX moved sharply as uncertainty deepened and nervousness increased. Everyone is searching for a bottom that is proving to be elusive so far. The week in pictures was thus.

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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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