technical analysis

Technical outlook โ€“ Is the worst over for the Nifty 50?

The bearish view on the Nifty 50 index shared over the past couple of posts has played out, and the Nifty 50 index hit the target of 16,700-16,900 mentioned earlier. Now, after recording a low of 16,828 on March 20, the index has been on a recovery path. The key question, then, would be – is worst is over for the Nifty 50? As always, we will try to address this question using our favourite charting tools including the breadth indicators.

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Technical outlook: Can the Nifty 50 slide further?

In the past couple of posts on the Nifty 50 outlook, we have been voicing a bearish view for the Nifty 50 index. This has played out as per expectations. The index almost achieved the first target of 17,150-17,200 that was mentioned a couple of posts ago. In the previous update, we had mentioned the possibility of a slide to the 16,700-16,900 zone.
Let us assess if this target is likely to be achieved or not.

Technical outlook: Can the Nifty 50 slide further? Read More ยป

Fundamental analysis or technical analysis: which is better?

There are more theories on what works in stock investing than there are listed stocks. Each one seems to be successful at some point in time. However, there is still no single universally applicable formula. I am still in search of that magic formula. If any of you do find one, please post it in the comments section.

But if there can be said to be two warring camps on the right approach to stock investing, these are usually fundamental analysis and technical analysis. Both have loyal camps of followers who swear that their method works best.

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Technical outlook โ€“ where the Nifty 50 could be headed in 2023

In the previous update on the targets for the Nifty 50, the expectation was that the index could head to the next target at 19,100. Contrary to expectations, the index has been in a correction phase in the past few weeks.ย In todayโ€™s report, thus, we try to assess both the short-term and the medium-term outlook for the Nifty 50 index.

Technical outlook โ€“ where the Nifty 50 could be headed in 2023 Read More ยป

Technical outlook: Can the new Nifty 50 targets be extended?

Itโ€™s been interesting times for the Nifty 50 in the past month! As we observed in the previous update, the Nifty 50 index remained bullish and managed to reach the first target of 18,640-18,700 zone that we had set. The index appears on course to reach even the second target of 19,100 mentioned in the outlook last month.ย 

Technical outlook: Can the new Nifty 50 targets be extended? Read More ยป

Technical outlook: Where the Nifty 50 & key sector indices are headed

In the previous update on the outlook for the Nifty 50, we had mentioned the possibility of the Nifty 50 index stabilising for a while before resuming its uptrend as one of the possible scenarios. This scenario has played out. The breakout above the positive trigger level of 17,500 confirmed the bullish case scenario as well. The third point worth highlighting is that the Nifty 50 index did not breach the bearish trigger level of 16,400 mentioned in the previous posts.

Technical outlook: Where the Nifty 50 & key sector indices are headed Read More ยป

Nifty 50: More bullishness ahead?

The price action in the Nifty 50 index, and the broader markets in particular, have been extremely bullish. The overbought scenario in the short-term breadth indicator was resolved by a sideways consolidation in price. This is a major sign of strength indicating that prices could power higher. In a downtrend or a weak market environment, the overbought breadth would typically lead to a sharp price correction, which will in turn lead to a cool off in the breadth indicator.

Nifty 50: More bullishness ahead? Read More ยป

Technical outlook: What can you expect from the Nifty 50?

In the previous update that we published on the possible levels for the Nifty 50, we expected a retest of June lows. This, however, did not play out. Contrary to expectations, the index marched higher, a gain that even managed to break the then-mentioned upper reference level 16,800. Interestingly, the downside trigger level of 15,350 was not even challenged!ย 

Technical outlook: What can you expect from the Nifty 50? Read More ยป

Technical outlook: Where does the Nifty 50 stand?

In the previous update on the Nifty 50 index, we had mentioned that the Nifty 50 index could retest or drop below the March low of 15,700. Since then, this scenario played out; the Nifty 50 dropped to a low of 15,183 on June 17 and has since been on a recovery path. Many of you have asked us where the Nifty 50 stands now. Hereโ€™s the view as the charts show.

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Technical outlook: A sector index on the recovery

We have been giving the outlook for the Nifty 50 over the past several months. With the market movements, there is no significant change that we can see from the stance explained in the earlier outlooks. Therefore, now, we turn our focus on two interesting sectors apart from the Nifty 50 โ€“ one thatโ€™s on the cusp of a recovery and the other.

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