Quant Yearly Outlook 2022 : Nifty target at 20800 By ICICI Direct
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2022: Nifty target at 20800
* The Nifty has moved above its long term mean+2*sigma levels on multiple occasions in the past but has rarely sustained above it in the last 12 years. Moreover, it has managed to test its Mean+3*sigma levels for the first time since 2008
* We believe it is a new trend in the making where Mean+2*sigma levels (currently near 15700) should act as a support while the Nifty should achieve the target of its mean+3*sigma levels in coming months. Extrapolating the current move further, we expect the Nifty to move towards 20800 in coming months
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