Nifty Price action under election Year cues.
Nifty next up move will come when it close above 22150 on monthly chart.
Empirically, in General election year, Nifty has a tendency to bottom out in Feb-March, followed by minimum 12-16% rally towards General election outcome in each of seven instances over past three decades.
As per chart nifty may be bottom out near levels 21120-20850 in upcoming days.
So, buy on dip approach may work for the investors.
Next target for Nifty after bottom out would be 24700 in May-June 2024.
Empirically, in General election year, Nifty has a tendency to bottom out in Feb-March, followed by minimum 12-16% rally towards General election outcome in each of seven instances over past three decades.
As per chart nifty may be bottom out near levels 21120-20850 in upcoming days.
So, buy on dip approach may work for the investors.
Next target for Nifty after bottom out would be 24700 in May-June 2024.
Transaction en cours:
Nifty break 21600 low 21578
enjoy the gain
enjoy the gain
