2023 में भारतीय Stock Market का भविष्य
Small correction can be happen for some time in Indian stock market.
Retracement already happen in week and daily chart but the good thing is it’s still bullish in monthly chart. Let’s understand the market by using RSI which is a momentum indicator.
Thumb rule of RSI :- (1) Above 60 strong uptrend, (2) Below 40 Downtrend (3) Between 60-40 choppy or sideways.
Monthly chart of nifty-
Now you can check that price is above RSI 60 in monthly chart so it’s still bullish in monthly chart. If retracement happen then price can take support on retracement level 1. It’s good buying opportunities but if the price brake retracement level 1 then it take support on retracement level 2 or level 3 in the monthly chart.
You can click here to know the future of infra sector in 2023.
[articleAdToAppear]
Weekly chart of nifty-
In the weekly chart you can see Price already braked RSI 60 support and the current RSI value is 59.37 so it’s not bullish signal. Price can take support on retracement level 1 which is between 17388.39 to 16715.81 and if the price break retracement level 1 then it comes to retracement level 2 or 3 for taking support so all three level are very strong support and good buying position.
Click here to know the best sector for investing in 2023.
Daily chart of nifty-
In the daily you can see Price is below the RSI 60 and the current RSI value is 44.47 which is a bearish signal but the good thing that price is trying to to take support on RSI 40. If Price take support on RSI 40 then it will be a good buying opportunities and could be low risk entry.
Click here to know my previous weekly market update.
Conclusion:- As per RSI nifty is bullish in monthly chart but choppy or sideways in weekly and monthly chart.
Q&A-
(1) Which stock is best to buy now?
Ans- ITC, TVS Motor.
(2) What are the 4 types of stocks?
Ans- Large Cap, Mid Cap, Small Cap and Hybrid Stocks.
(3) What are the 3 main stock markets?
Ans- Nifty, Nasdaq and Dow Jones.
(4) What type of stock is Apple?
Ans- Large Cap Stock.
(5) What is todays share price?
Ans- Nifty is 18420.45 and Bank Nifty is 43413.75.
[multiplexAdToAppear]