technical outlook

Technical outlook – the Nifty 50 and broader markets

As observed in the previous update on targets for the Nifty 50, the index remained strong and also moved pretty close the target zone of 18,700-18,750. The index recorded a high of 18,662 on May 30 and has since been in a consolidation. In this update, we take a quick look at the short-term outlook for the Nifty 50 index and focus on a more detailed outlook for the broader markets and interesting sectors.

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Technical outlook – 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.

Technical outlook – Is the worst over for the Nifty 50? Read More »

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 »

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