Nifty and Bank Nifty Prediction: Dec 18-23, 2023 Insights by BL GURU | Market Analysis and Forecast


he global equity markets have seen a strong surge last week. The US Federal Reserve’s #usfed decision to leave the rates unchanged and hinting at three rate cuts next year has taken the #dowjones, #nifty and the #banknifty indices to record highs last week. Charts are looking strong. There is room for more rise going forward. However, key resistances are also coming up which will need a close watch.

#nifty has support at 21,200-21,000. Outlook is bullish. #Nifty can rise to 21,700-21,750. Thereafter a corrective fall to 20,800-20,500 is a possibility. In case the #nifty50 manages to break above 21,750, the upside can extend up to 22,000-22,200.

#niftybank index is bullish. Support is around 47,800. #banknifty index can rise to 49,700-49,900. From there a corrective fall to 48,000 is possible.

#dowjones is looking very strong. It can outperform the Indian markets. Strong support is in the 36,200-36,000 region. #dowjones can rise to 39,200-39,300 in the coming weeks. After that a corrective fall to 37,000-36,500 can be seen.

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