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Traders can adopt buy-on-dips strategy for Nifty Energy index: Ravi Nathani

According to the technical analyst, the best trading strategy for short-term and swing traders would be to buy the Nifty Energy index on dips, with the expectation of outperformance in the near future

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Ravi Nathani Mumbai
Nifty Energy
Last close: 22,427.65 (Buy on dips)

Since the index is trading at 22427.65, it is expected to exhibit some sideways movements, trading within a range of 500 points. The upper limit of this range is expected to be around 22,650, while the lower limit is anticipated to be around 22,150.

It is important to note that as Relative Strength Index (RSI) is slowly moving higher, this signals that each dip in the index should be considered an opportunity to accumulate for traders and swing players.

Therefore, the best trading strategy for short-term and swing traders would be

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First Published: Feb 17 2023 | 7:44 AM IST

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