17, May
Nifty 3523.13

Today, If Nifty moves above 3570 region and sustains above this level, it would indicate that the bottom is formed. And further upside potential is possible.

If that is the case, then Nifty could move towards 3700 level comfortably in two or three trading sessions. And a correction can be expected around this region.



Instead, if it couldn’t manage to stay above 3570 region, and if it moves below 3480 region, then further downside towards 3400 is possible. Even in this case, Nifty could bounce back, unless 3340 is breached.

As long as Nifty stays above 3340 level, the outlook remains postive for the Market. Below this level, the perceived technical picture has to be reworked.


The medium term technical picture suggests that Nifty could rally above 4200 region in a short span of time.

The views and targets of select scrips which were recommended for investment remains same. But if it trades below the stoploss level, cut positions below the stop and re-enter above the stoploss level, when it moves up.