Market Update: HDFC Securities’ Nagarat Shetty on the Market
– Nagarat Shetty of HDFC Securities notes a long positive candle with a minor upper shadow on the daily chart on June 16.
– Technically, this pattern indicates an attempt to break out above 18,800 and the Nifty is now ready to touch a new all-time high of 18,887.
– The Nifty has also formed a long bullish candle on the weekly chart, indicating a positive trend for the near future.
– Shetty believes there is potential for the Nifty to reach around 19,000-19,100, with immediate support at 18,700.
On June 16, Nagarat Shetty of HDFC Securities observed a long positive candle with a minor upper shadow on the daily chart. Technically, this pattern indicates an attempt to break out above 18,800 and the Nifty is now ready to touch a new all-time high of 18,887. The Nifty has also formed a long bullish candle on the weekly chart, indicating positive trends for the near future.
Shetty believes that the Nifty has a strong momentum for the near future. This week, the Nifty may reach a new all-time high. According to Shetty, the next target for the Nifty is around 19,000-19,100, and immediate support is at 18,700.
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