CLSA shocking target on Nifty
During falling markets, CLSA comes with an exciting report on nifty that surprises all.
CLSA surprises all by giving a huge upside target of nifty. Nifty can cross levels of 21,000. CLSA gives two targets on the basis of the technical chart of nifty. A long cup with a handle pattern can be seen on daily and weekly charts. The cup with handle pattern on the charts is from dates 1st October 2021 to June 2023. Breakout of this chart pattern triggers in June 2023.
CLSA gives two targets of nifty. The first target is between a range of 21,200 to 21,300 and the second target is a range of 22,800 to 23,000.
Target 1- 21,200 – 21,300
Target 2- 22,800 – 23,000
Now about supports on charts of nifty, according to CLSA nifty can come down to the first target of range between 19,200 to 19,230 i.e. low of August 2023, and the second target which is strong support at 18,520 to 19,017, where buyers look for entries.
Support 1- 19,200- 19,230
Support 2- 18520- 19,017.