The Nifty is trying to bottom out from lower levels, it has retraced 38.2% of its recent fall from 25,100 to 23,900 on the daily chart. The technical indicator shows an uptrend in a shorter time frame chart, and the Nifty has farmed the Green Hammer Pattern weekly. The market breadth is also positive, on Friday Advances were 45 and Declines were 5 among the Nifty stocks.
Thus, a buy-on-dips strategy should be adopted for Nifty. On the downside, 24,000 will act as a major support level, where the 50-DEMA support is placed. Investors should stay invested with Quality stocks and Mutual Funds and one can add more at current levels or any further dips in the market.
#Nifty 50
CMP: 24367
Major Upside Potentials: 24500, 24635 & 26750
Major Supports: 24210, 24100 & 24000
#NIFTYBANK
CMP: 50484
Major Upside Potentials: 50900 & 51085
Major Supports: 50145 & 49875
If you are looking for a higher return on investment then the recent market fall gives us a better opportunity to do a gradual Lumpsum Investment through Mutual Fund or You can Increase the SIP amount.
SIP means Systematic Investment Plan. It is a recurring investment method in which individuals invest a fixed amount regularly in mutual funds for long-term investment.
Lumpsum investment refers to investing a substantial amount of money at one go into a financial product.
If you have surplus cash to deploy in the market & looking for guidance then you can call/wapp me 9730702102.
Thanks & Regards,
Jagdish Jha
Stock Market Trainer & Mutual Fund Distributor
Investment/Guidance (Call/Wapp) – 9730702102
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Disclaimer: Mutual Funds are subject to market risks and one should read all scheme documents carefully before investing.
