Considering 2022 as a whole, the NIFTY had just 4% yearly gain, Inflation in India is at 5.88% and expecting to come down more. Crude oil prices are coming down globally which is positive for the India. The year 2023 will be a good year as we expect bumper Rabi and Kharif crops like wheat, rice, sugarcane, RmSeed, Soyabean, Pulses and also from Palm crop under edible oil mission. India is coming out from the cCovid resuming full economic activity. Fundamentally things are looking positive in the contest of India. FPI’s investment may be expected to rise as India is again an investment park for the global investors due to political stability and strong policy framework from the RBI.Jupiter transits through Aquarius and Capricorn during 2023. Saturn controls both these signs.
Below is detailed analysis on Nifty based on various technical analysis techniques. Last Year Analysis
16410 is the at the bottom of regression channel holding the same rally can move towards 18605/19683. Below 16410 fall towards 15500.
Monthly Gann Chart
Monthly Chart with Gann Angles is shown shows wide range for coming years 17576 above 19683 and below 16410 fall towards 15625
Elliot Wave Analysis
FII DATA ANALYSIS
Very interesting data. Whoever believes FII moving the Indian market, in my it’s a wrong perception, in the last 7 years only 2 year were FII inflow +ve.
Nifty Projected Price and Time Pattern based on Neural Forecast
Below is Neural Forecast for 2023, It is not a FOOLPROOF Technique and its works 60-65% of time. So Please do not take aggresive trade without SL.
Important Pressure Dates as per Gann and Astro Analysis :