Nifty Technical Analysis
Nifty again made a bearish candle on daily chart after loosing out its all gains of morning session. Nifty PCR comes at 0.91 which is considered to be neutral and can support market to go on either side. RSI slowly sloping downwards and comes to a level of 42.25 on daily chart. Only positive signal on daily chart is MACD which is making a bullish crossover and making green histogram on daily chart. So we have to respect levels and stick to strict stop loss while trading in Index.
Conclusion And Strategy
For 25 May 22, buying can be done in Index if it breaches todays high and hold i.e 16225 for a target of 16290 followed by 16350. For Bears, selling can be done in Index if it breaches 16080 and hold for a target of 15980 followed by 15810.
Stock to accumulate for long term investment : Titan, Polyplex, Amber.