Nifty Daily Technical Analysis And Strategy 24 May 22

Nifty Technical Analysis For 24 May 22

Nifty made a bearish candle on daily chart after giving all the gains in last one hour from the important level of 16400. RSI slips down a little bit to a level of 43.15. MACD making green histogram on daily chart. Nifty closes on important support level of 16200. According to option chain it looks Nifty will again test 16400 on 24 May 22. PCR is at 1.015 which can be consider neutral and can support market to go up.

Strategy For 24 May 22

For 24 May 2022 if Nifty holds 16200 then buying can be done in Index for a target of 16290,16414 and if Nifty sustain 16400 for 30 mins then 16550 followed by 16630 can be seen tomorrow. For bears if nifty breaches 16150 then Index can be short for a target of 16094 followed by 15911.

Stocks to watch PVR buy, AMBER watch buy near 2400.

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