Nifty50 - November 2024 view
Mis à jour
In my October view, I had mentioned that it is time to be cautious as Nifty was near an important zone of 26240-26270 and we have seen more than 2000 points fall since then.
FIIs have sold more than 1.3 lakh crore of equity in last 40 days.
Let's analyze what can be expected in this month. We have seen nearly 10% correction from ATH in Nifty50. 23900 is acting as a support currently which is also its 78.6 % fib extension.
On the downside:-
Below 23900, I am expecting at least 23300 which is near the trendline support.
On the upside:-
24300, 24800 & 25000 would act as a strong resistance.
Current view is sideways to bearish till 25000 is breached on weekly closing basis
Till then, market will remain on sell at high.
FIIs have sold more than 1.3 lakh crore of equity in last 40 days.
Let's analyze what can be expected in this month. We have seen nearly 10% correction from ATH in Nifty50. 23900 is acting as a support currently which is also its 78.6 % fib extension.
On the downside:-
Below 23900, I am expecting at least 23300 which is near the trendline support.
On the upside:-
24300, 24800 & 25000 would act as a strong resistance.
Current view is sideways to bearish till 25000 is breached on weekly closing basis
Till then, market will remain on sell at high.
Transaction en cours
A point to note is that there is a positive RSI divergence near 23900 which can bring some upside movement in Nifty50 currently.Note
Nifty is testing 23900 again today.
If support is taken, we might see quick move towards 24500 .
Publications connexes
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.