Friday, September 29, 2006

TECHNICAL OUTLOOK - 29 SEP

Nifty 3571.75

The short term trend in Nifty is looking bullish and it has potential of testing 3650 in coming trading sessions and this view holds good as long as Nifty stays above 3535 level.

Positional traders can continue to hold their long positions for the next short term target with a stop at 3535.

Today, if Nifty sustains above 3595, then it has potential of testing 3620.

If it fails to move above 3585, then it could test 3552 in the downside.


Sun Pharma 923.55

If this scip sustains above 910 level, then it has potential of testing 970 in coming trading sessions. Buy with a stop at 910.


Suzlon 1256.00

The short term trend would remain bullish as long as this scrip stays above 1220 level. Buy on decline with a stop at 1220 for a target of 1350 initially in coming trading sessions.


DELIVERY CALLS


Amtek auto 334.85

The long term trend in this scrip is looking bullish.

In the short term, the scrip has potential of sharply moving towards 400 level initially in coming weeks. Buy with a stop at 295.


Mysore cements 55.05

The long term trend in this scrip is looking bullish.

In the short term, the scrip has potential of testing 80 level initially in coming weeks. Buy with a stop at 45.



Medium term Outlook of Nifty

On June 14, before Nifty had bottomed out, I suggested two bullish post correction scenario, in which, one being, Nifty could cross its all time high before the end of August 2006. By August end, Nifty tested a high of 3452. Now, my bullish view on Nifty continues to be same.

The pattern in Nifty suggests that it is likely to exceed its all time high of 3774 in two or three months atleast by few points before going in to corrective mode. So, I project a target of 3800 for Nifty in coming months. This view holds good as long as Nifty stays above 3200.

Thursday, September 28, 2006

TECHNICAL OUTLOOK - 28 SEP

Nifty 3579.30

The short term trend in Nifty is looking bullish and it has potential of testing 3650 in coming trading sessions and this view holds good as long as Nifty stays above 3535 level.

Positional traders can continue to hold their long positions for the next short term target with a stop at 3535.

Today, if Nifty sustains above 3565, then it has potential of testing 3600 and further if it trades above this level, then it could move up further.

Below 3565, Nifty could test 3540.


Reliance 1172.00

The short term trend is looking bullish and it has potential of testing 1210 initially in coming trading sessions. Long positions can be initiated on price weakness, with a stop at 1150.


Medium term Outlook of Nifty

On June 14, before Nifty had bottomed out, I suggested two bullish post correction scenario, in which, one being, Nifty could cross its all time high before the end of August 2006. By August end, Nifty tested a high of 3452. Now, my bullish view on Nifty continues to be same.

The pattern in Nifty suggests that it is likely to exceed its all time high of 3774 in two or three months atleast by few points before going in to corrective mode. So, I project a target of 3800 for Nifty in coming months. This view holds good as long as Nifty stays above 3200.

Wednesday, September 27, 2006

TECHNICAL OUTLOOK - 27 SEP

Nifty 3571.75

The short term trend in Nifty is looking bullish and it has potential of testing 3650 in coming trading sessions and this view holds good as long as Nifty stays above 3535 level.

Positional traders can continue to hold their long positions for the next short term target with a stop at 3535.

Today, if Nifty sustains above 3552, then it has potential of testing 3600.


I Flex 1432.95

The short term trend in this scrip is looking bullish and it has potential of testing 1550 in coming trading sessions. Buy on decline with a stop at 1410 for the above mentioned target.



ICICI Bank 677.80

The short term trend in this scrip is looking bullish and it has potential of testing 750 in coming trading sessions. Buy on decline with a stop at 650 for the above mentioned target.



Medium term Outlook of Nifty

On June 14, before Nifty had bottomed out, I suggested two bullish post correction scenario, in which, one being, Nifty could cross its all time high before the end of August 2006. By August end, Nifty tested a high of 3452. Now, my bullish view on Nifty continues to be same.

The pattern in Nifty suggests that it is likely to exceed its all time high of 3774 in two or three months atleast by few points before going in to corrective mode. So, I project a target of 3800 for Nifty in coming months. This view holds good as long as Nifty stays above 3200.

Tuesday, September 26, 2006

TECHNICAL OUTLOOK - 26 SEP

Nifty 3523.45

The short term trend in Nifty is looking bullish and it has potential of testing 3650 in coming trading sessions and this view holds good as long as Nifty stays above 3500 level. A move below this level would delay the upside target.

Today, if Nifty sustains above 3505, then it has potential of testing 3540. And further if it stays above 3540 level, it could test 3560.


Infosys 1816.55

The short term trend is looking bullish and it has potential of testing 1900 initially in coming trading sessions. Long positions can be initiated on price weakness, with a stop at 1785.


ACC 965.50

The short term trend is looking bullish and it has potential of testing 1000 in coming trading sessions. Long positions can be initiated on price weakness, with a stop at 950.


TCS 1025.20

The short term trend is looking bullish and it has potential of testing 1080 in coming trading sessions. Long positions can be initiated on price weakness, with a stop at 1000.


IPCL 306.15

The short term trend in this scrip is looking bullish and it has potential of testing 340 in coming trading sessions. Buy on decline with a stop at 299 for the above mentioned target.


Medium term Outlook of Nifty

On June 14, before Nifty had bottomed out, I suggested two bullish post correction scenario, in which, one being, Nifty could cross its all time high before the end of August 2006. By August end, Nifty tested a high of 3452. Now, my bullish view on Nifty continues to be same.

The pattern in Nifty suggests that it is likely to exceed its all time high of 3774 in two or three months atleast by few points before going in to corrective mode. So, I project a target of 3800 for Nifty in coming months. This view holds good as long as Nifty stays above 3200.

Monday, September 25, 2006

TECHNICAL OUTLOOK - 25 SEP

Nifty 3544.05

The short term trend in Nifty is looking bullish and it has potential of testing 3650 in coming trading sessions and this view holds good as long as Nifty stays above 3500 level.

Today, if Nifty sustains above 3525, then it has potential of testing 3580. Instead, if Nifty moves below 3525, then Nifty could test 3510 from where it is likely to move up.


IPCL 309.50

The short term trend in this scrip is looking bullish and it has potential of testing 340 in coming trading sessions. Buy on decline with a stop at 299 for the above mentioned target


Medium term Outlook of Nifty

On June 14, before Nifty had bottomed out, I suggested two bullish post correction scenario, in which, one being, Nifty could cross its all time high before the end of August 2006. By August end, Nifty tested a high of 3452. Now, my bullish view on Nifty continues to be same.

The pattern in Nifty suggests that it is likely to exceed its all time high of 3774 in two or three months atleast by few points before going in to corrective mode. So, I project a target of 3800 for Nifty in coming months. This view holds good as long as Nifty stays above 3200.

Friday, September 22, 2006

TECHNICAL OUTLOOK - 22, SEP

Nifty 3553.05

Though the trend still continues to be bullish, Nifty is likely to trade between 3510 and 3570 for the time being before moving up for higher targets.

Today, if Nifty fails to sustain above 3540, then it has potential of testing 3525 initially, and further if it trades below this level, then it could 3510.

Instead, if Nifty sustains above 3540, then it could test 3570.



Medium term Outlook of Nifty

On June 14, before Nifty had bottomed out, I suggested two bullish post correction scenario, in which, one being, Nifty could cross its all time high before the end of August 2006. By August end, Nifty tested a high of 3452. Now, my bullish view on Nifty continues to be same.

The pattern in Nifty suggests that it is likely to exceed its all time high of 3774 in two or three months atleast by few points before going in to corrective mode. So, I project a target of 3800 for Nifty in coming months. This view holds good as long as Nifty stays above 3200.

Thursday, September 21, 2006

TECHNICAL OUTLOOK - 21 SEP

Nifty 3502.80

The short term trend in Nifty is looking bullish and it has potential of testing 3560-3570 level in coming trading sessions. And this view holds good as long as Nifty stays above 3480.

Positional traders can hold their long positions with a stop at 3480.


Today, if Nifty sustains above 3480, then it has potential of testing 3540 initially, and if it trades above this level, then further upside is possible.


Reliance 1128.00

The short term trend is looking bullish and it has potential of testing 1200 initially in coming trading sessions. Long positions can be initiated on price weakness, with a stop at 1115.

Wednesday, September 20, 2006

TECHNICAL OUTLOOK - 20 SEP

Nifty 3457.35

If Nifty sustains above 3420 and moves above 3465, then the short term bullish trend would be intact. Below 3420, Nifty could test 3390. Nifty is likely to move up from any of the above mentioned level.

Today, if Nifty sustains above 3420, then it has potential of testing 3465 initially, and if it trades above this level, then further upside is possible. Instead, if it trades below 3420, then it could test 3390.



Medium term Outlook of Nifty

On June 14, before Nifty had bottomed out, I suggested two bullish post correction scenario, in which, one being, Nifty could cross its all time high before the end of August 2006. By August end, Nifty tested a high of 3452. Now, my bullish view on Nifty continues to be same.

The pattern in Nifty suggests that it is likely to exceed its all time high of 3774 in two or three months atleast by few points before going in to corrective mode. So, I project a target of 3800 for Nifty in coming months. This view holds good as long as Nifty stays above 3200.

Tuesday, September 19, 2006

TECHNICAL OUTLOOK - 19 SEP

Nifty 3492.75

The short term trend in Nifty is looking bullish and it has potential of testing 3560-70 level in coming trading sessions and this view holds good as long as Nifty stays above 3435. And also Nifty should sustain above 3490 to confirm the bullish view.

Positional traders can hold on to their long positions for the next short term target with a stop at 3435.

Today, if Nifty sustains above 3470, then it has potential of testing 3520 initially, and if it trades above this level, then further upside is possible.


ACC 955.35

The short term trend is looking bullish and it has potential of testing 1000 initially in coming trading sessions. Long positions can be initiated on price weakness, with a stop at 940.

In the medium term, the scrip is looking bullish and one can hold it with a stop at 900.

Medium term Outlook of Nifty

On June 14, before Nifty had bottomed out, I suggested two bullish post correction scenario, in which, one being, Nifty could cross its all time high before the end of August 2006. By August end, Nifty tested a high of 3452. Now, my bullish view on Nifty continues to be same.

The pattern in Nifty suggests that it is likely to exceed its all time high of 3774 in two or three months atleast by few points before going in to corrective mode. So, I project a target of 3800 for Nifty in coming months. This view holds good as long as Nifty stays above 3200.

Monday, September 18, 2006

TECHNICAL OUTLOOK - 18 SEP

Nifty 3478.60

The short term trend in Nifty is looking bullish and it has potential of testing 3560-70 level in coming trading sessions and this view holds good as long as Nifty stays above 3420. And also Nifty should move above 3490 immediately and should sustain above it to confirm the bullish view.


Positional traders can hold on to their long positions for the next short term target with a stop at 3420.

Today, if Nifty sustains above 3455, and moves above 3490, then it has potential of testing 3520 initially, and if it trades above this level, then further upside is possible.


Satyam 830.00

The short term trend is looking bullish and it has potential of testing 860 initially in coming trading sessions. Long positions can be initiated on price weakness, with a stop at 820.

In the medium term, the scrip is looking bullish and one can hold it with a stop at 750.


Medium term Outlook of Nifty

On June 14, before Nifty had bottomed out, I suggested two bullish post correction scenario, in which, one being, Nifty could cross its all time high before the end of August 2006. By August end, Nifty tested a high of 3452. Now, my bullish view on Nifty continues to be same.


The pattern in Nifty suggests that it is likely to exceed its all time high of 3774 in two or three months atleast by few points before going in to corrective mode. So, I project a target of 3800 for Nifty in coming months. This view holds good as long as Nifty stays above 3200.

Friday, September 15, 2006

TECHNICAL OUTLOOK - 15 SEP

Nifty 3471.60

The short term trend in Nifty is looking bullish and it has potential of testing 3560-70 level in coming trading sessions and this view holds good as long as Nifty stays above 3420.

Positional traders can hold on to their long positions for the next short term target with a stop at 3420.

Today, if Nifty sustains above 3462, and moves above 3480, then it has potential of testing 3520 initially, and if it trades above this level, then further upside is possible. Stop for the longs is 3440.



Colgate 371.90

The short term trend is looking bullish and it has potential of testing 450 initially in coming trading sessions. Long positions can be initiated on price weakness, with a stop at 365.

Below 365, it has potential of testing 345. But the upside target remains same in this case also.


Cummins Ind 212.70

The short term trend is looking bullish and it has potential of testing 280 initially in coming weeks. Long positions can be initiated on price weakness, with a stop at 208.

In case if it trades below 208, then in the downside it has potential of testing 190. But the upside target is valid, even in this case.


Essar oil 55.85

The short term trend is looking bullish and it has potential of testing 80 initially in coming weeks. Long positions can be initiated on price weakness, with a stop at 54.


IPCL 301.35

The short term trend in this scrip is looking bullish and it has potential of testing 340 in coming trading sessions. Buy on decline with a stop at 295 for the above mentioned target.




Medium term Outlook of Nifty

On June 14, before Nifty had bottomed out, I suggested two bullish post correction scenario, in which, one being, Nifty could cross its all time high before the end of August 2006. By August end, Nifty tested a high of 3452. Now, my bullish view on Nifty continues to be same.

The pattern in Nifty suggests that it is likely to exceed its all time high of 3774 in two or three months atleast by few points before going in to corrective mode. So, I project a target of 3800 for Nifty in coming months. This view holds good as long as Nifty stays above 3200.

Thursday, September 14, 2006

TECHNICAL OUTLOOK - 14 SEP

Nifty 3454.55

The short term trend in Nifty is looking bullish and it has potential of testing 3500 and above in coming trading sessions. And this view holds good as long as Nity stays above 3390.


Today, if Nifty sustains above 3435, then it has potential of testing 3500 initially, and if it trades above this level, then further upside is possible. Stop for the longs is 3420.


Century Textiles 486.90

The short term trend is looking bullish and it has potential of testing 515 initially in coming trading sessions. Long positions can be initiated on price weakness towards 480, with a stop at 473.


Medium term Outlook of Nifty

On June 14, before Nifty had bottomed out, I suggested two bullish post correction scenario, in which, one being, Nifty could cross its all time high before the end of August 2006. By August end, Nifty tested a high of 3452. Now, my bullish view on Nifty continues to be same.


The pattern in Nifty suggests that it is likely to exceed its all time high of 3774 in two or three months atleast by few points before going in to corrective mode. So, I project a target of 3800 for Nifty in coming months. This view holds good as long as Nifty stays above 3200.

Wednesday, September 13, 2006

TECHNICAL OUTLOOK - 13, SEP

Nifty 3389.90

If Nifty sustains above 3370, then it can be assumed that the correction was completed at 3328. And the short term trend would turn bullish, if it sustains above 3370. On the other hand, if Nifty trades below 3370, then it could test 3300 before moving up.

Today, if Nifty sustains above 3370, then it has potential of testing 3420 initially, and further, if it trades above this level, then Nifty has potential of testing 3440 and above.

Those who have exited their long positions in those scrips in which the stop was triggered, can re enter their positions above the stop loss levels and can hold their positions with the same stop. The upside targets for all those scrips remain same.



Medium term Outlook of Nifty

On June 14, before Nifty had bottomed out, I suggested two bullish post correction scenario, in which, one being, Nifty could cross its all time high before the end of August 2006. By August end, Nifty tested a high of 3452. Now, my bullish view on Nifty continues to be same.


The pattern in Nifty suggests that it is likely to exceed its all time high of 3774 in two or three months atleast by few points before going in to corrective mode. So, I project a target of 3800 for Nifty in coming months. This view holds good as long as Nifty stays above 3200.

Tuesday, September 12, 2006

TECHNICAL OUTLOOK - 12 SEP

Nifty 3366.15

Short term trend in Nifty has turned negative, once it moved below 3390 and now, it has potential of testing 3280-3300. If Nifty doesn’t violate this level, then Nifty is likely to bounce from this level. In the upside, Nifty should sustain above 3390 level in coming trading sessions to continue its rally.

The long term trend of Nifty is bullish as long as it stays above 3200.

Today, if Nifty fails to move above 3365, then it has potential of testing 3330 initially, and further, if it trades below 3330, then Nifty has potential of testing 3300. Above 3365, it could test 3380.


Medium term Outlook of Nifty

On June 14, before Nifty had bottomed out, I suggested two bullish post correction scenario, in which, one being, Nifty could cross its all time high before the end of August 2006. By August end, Nifty tested a high of 3452. Now, my bullish view on Nifty continues to be same.

The pattern in Nifty suggests that it is likely to exceed its all time high of 3774 in two or three months atleast by few points before going in to corrective mode. So, I project a target of 3800 for Nifty in coming months. This view holds good as long as Nifty stays above 3200.

Monday, September 11, 2006

TECHNICAL OUTLOOK - 11 SEP

Nifty 3471.45

Short term trend in Nifty is bullish and it has potential of testing 3550 and above in coming trading sessions. And this view holds good as long as Nifty stays above 3390.

Today, if Nifty sustains above 3460, then it has potential of testing 3495 initially, and further, if it trades above 3495, then Nifty has potential of testing 3520.

Stop for the longs is 3440.


Bank of Baroda 249.30

The short term trend is looking bullish and it has potential of testing 290 initially in coming trading sessions. Long positions can be initiated on price weakness, with a stop at 232.

For deliveries the stop can be kept at 210 and the bullish view and upside target is valid as long as this scrip holds above this level.


Aurobindo Pharma 641.90

The short term trend is looking bullish and it has potential of testing 750 in coming weeks. Long positions can be initiated on price weakness, with a stop at 630.

For deliveries the stop can be kept at 615. The bullish view and the upside target is valid as long as this scrip holds above this level.


Ranbaxy 416.80

The short term trend is looking bullish and it has potential of testing 500 initially in coming weeks. Long positions can be initiated on price weakness, with a stop at 390.

For deliveries the stop can be kept at 350 and the bullish view and upside target is valid as long as this scrip holds above this level.


Bharti Tele 430.35

The short term trend is looking bullish and it has potential of testing 490 initially in coming weeks. Long positions can be initiated on price weakness, with a stop at 412.

If this scrip sustains above 425, then it is likely to rally from current levels.


Alok Textiles 67.60

The short term trend in this scrip is looking bullish and it has potential of testing 100 in coming weeks. Buy on decline with a stop at 58 for the above mentioned target.




Medium term Outlook of Nifty

On June 14, before Nifty had bottomed out, I suggested two bullish post correction scenario, in which, one being, Nifty could cross its all time high before the end of August 2006. By August end, Nifty tested a high of 3452. Now, my bullish view on Nifty continues to be same.


The pattern in Nifty suggests that it is likely to exceed its all time high of 3774 in two or three months atleast by few points before going in to corrective mode. So, I project a target of 3800 for Nifty in coming months.

Friday, September 08, 2006

TECHNICAL OUTLOOK - 08 SEP

Nifty 3454.45

Short term trend in Nifty is looking bullish and it has potential of testing 3550 and above in coming trading sessions. And this view holds good as long as Nifty stays above 3390.

Today, if Nifty sustains below 3460, then it has potential of testing 3430. Further, if it trades below 3430, Nifty has potential of testing 3400. Nifty is likely to bounce from any of the above mentioned levels.

On the other hand, if Nifty moves above 3460 and sustains above that level, then Nifty could move up further towards 3480 initially.



ZEE 296.30

The short term trend is looking bullish and it has potential of testing 350 in coming weeks. In the medium term the scrip has potential of testing 400 in coming months. The stop for the deliveries can be kept at 250.

For short term trading, long positions can be initiated on price weakness towards 285 with a stop at 280 for a target of 320.


GAIL 267.80

The short term trend in this scrip is looking bullish and it has potential of testing 300 in coming trading sessions. If this scrip sustains above 260, then it is likely to move towards 300. Buy with a stop at 260 on price weakness.



Medium term Outlook of Nifty

On June 14, before Nifty had bottomed out, I suggested two bullish post correction scenario, in which, one being, Nifty could cross its all time high before the end of August 2006. By August end, Nifty tested a high of 3452. Now, my bullish view on Nifty continues to be same.

The pattern in Nifty suggests that it is likely to exceed its all time high of 3774 in two or three months atleast by few points before going in to corrective mode. So, I project a target of 3800 for Nifty in coming months.

Thursday, September 07, 2006

TECHNICAL OUTLOOK - 07 SEP

Nifty 3477.25

Short term trend in Nifty is looking bullish and it has potential of testing 3550 and above in coming trading sessions.

Today, if Nifty sustains above 3490, then it could test 3520-3530 level.

Below 3460, it could test 3440.

The stop for the longs is 3460.


INFOSYS 1840

The short term trend is looking bullish and it has potential of testing 1900 in coming trading sessions. Fresh long positions can be initiated on price weakness with a stop at 1810.


SBI 949.80

The short term trend in this scrip is looking bullish and it has potential of testing 1010 in coming trading sessions. If this scrip sustains above 935, then it is likely to see a sharp upmove towards 1010. Buy with a stop at 935 on price weakness.

Below 935, it could test 925 but the upside target remains same till it is broken.


Medium term Outlook of Nifty

On June 14, before Nifty had bottomed out, I suggested two bullish post correction scenario, in which, one being, Nifty could cross its all time high before the end of August 2006. By August end, Nifty tested a high of 3452. Now, my bullish view on Nifty continues to be same.

The pattern in Nifty suggests that it is likely to exceed its all time high of 3774 in two or three months atleast by few points before going in to corrective mode. So, I project a target of 3800 for Nifty in coming months.

Wednesday, September 06, 2006

TECHNICAL OUTLOOK - 06 SEP

Nifty 3473.75

Short term trend in Nifty is looking bullish and it has potential of testing 3500 and above in coming trading sessions.

Today, as mentioned yesterday, if Nifty sustains above 3460 and moves above 3480, then it could test 3510 level.

Below 3460, it could test 3440.

The stop for the longs is 3460.



TCS 1004.00

After hitting our short term target of 1030, this scrip has turned weak. Now, the short term trend is looking bullish and it has potential of testing 1050 in coming trading sessions. If the level 998 is not violated, then the scrip could move up from current levels.

If it trades below 998, then it could move down upto 980 from where it is likely to move up. Stop for the longs is 980.


ACC 942.75

This scrip is likely to test 980 level initially in coming tradings sessions. If this scrip stays above 935, then it could move up from current levels. Buy for the short term with a stop at 935.

Below 935, it could test 920 and even in this case the bullish view and the upside target would remain valid.


Medium term Outlook of Nifty

On June 14, before Nifty had bottomed out, I suggested two bullish post correction scenario, in which, one being, Nifty could cross its all time high before the end of August 2006. By August end, Nifty tested a high of 3452. Now, my bullish view on Nifty continues to be same.

The pattern in Nifty suggests that it is likely to exceed its all time high of 3774 in two or three months atleast by few points before going in to corrective mode. So, I project a target of 3800 for Nifty in coming months.

Tuesday, September 05, 2006

TECHNICAL OUTLOOK - 05 SEP

Nifty 3476.85

Short term trend in Nifty is looking bullish and it has potential of testing 3500 and above in coming trading sessions and this view holds good as long as Nifty stays above 3390.

Today, if Nifty sustains above 3460 and moves above 3480, then it could test 3510 level.

Below 3460, it could test 3440.

The stop for the longs is 3430.



ITC 190.15

The short term trend is looking bullish and it has potential of testing 210 in coming trading sessions. If the level 188 is not violated, then the scrip could move up from current levels.

If it trades below 188, then it could move down upto 185 from where it is likely to move up. Stop for the longs is 184.


TATA STEEL 506.10

This scrip is likely to test 550 level initially in coming tradings sessions. If this scrip stays above 500, then it could move towards 550. Buy for the short term with a stop at 500.

A move above 515 would confirm the upside target.


Medium term Outlook of Nifty

On June 14, before Nifty had bottomed out, I suggested two bullish post correction scenario, in which, one being, Nifty could cross its all time high before the end of August 2006. By August end, Nifty tested a high of 3452. Now, my bullish view on Nifty continues to be same.


The pattern in Nifty suggests that it is likely to exceed its all time high of 3774 in two or three months atleast by few points before going in to corrective mode. So, I project a target of 3800 for Nifty in coming months

Monday, September 04, 2006

TECHNICAL OUTLOOK - 04 SEP

Nifty 3435.45

Short term trend in Nifty is looking bullish and it has potential of testing 3500 and above in coming trading sessions and this view holds good as long as Nifty stays above 3390.

Today, if Nifty sustains above 3440, then it could test 3470 level.

The stop for the longs is 3420.



SHORT TERM TRADING CALLS

SATYAM 799.80

The short term trend is looking bullish and it has potential of testing 850 in coming trading sessions. If the level 796 is not violated, the scrip could move up from current levels. If it trades below 796, then it could move down upto 775. But, the bullish view would holds good as long as this scrip stays above 775.


TCS 998.00

This scrip is likely to test 1030 level initially in coming tradings sessions. If this scrip stays above 992, then it could move towards 1030. Buy for the short term with a stop at 992.

If it trades below 992, then in the downside it could test 975, from where it is likely to move up.


Medium term Outlook of Nifty

On June 14, before Nifty had bottomed out, I suggested two bullish post correction scenario, in which, one being, Nifty could cross its all time high before the end of August 2006. By August end, Nifty tested a high of 3452. Now, my bullish view on Nifty continues to be same.


The pattern in Nifty suggests that it is likely to exceed its all time high of 3774 in two or three months atleast by few points before going in to corrective mode. So, I project a target of 3800 for Nifty in coming months.

Friday, September 01, 2006

TECHNICAL OUTLOOK - 01 SEP

Nifty 3413.90

Short term trend in Nifty is looking bullish and it has potential of testing 3500 and above in coming trading sessions and this view holds good as long as Nifty stays above 3390. Positional traders can exit their long positions for the time being, if Nifty trades below 3390.

Today, if Nifty sustains above 3400, it could test 3440 and if it sustains above this level, then it could test 3455-3460 level.

The stop for the longs is 3390.



SHORT TERM TRADING CALLS


RELIANCE 1118.10

The short term trend is looking bullish. Fresh long positions can be initiated at current levels with a stop at 1110 for a target of 1200 in coming trading sessions. A move above 1140 would confirm the upside target.


TATA STEEL 496.25

If this scrip sustains above 490, then long positions can be initiated on price weakness with a stop at 490, for a target of 550 in coming trading sessions.


DELIVERY CALLS

Cosmo films 100.45

The scrip has potential of testing 150 in coming weeks.
Price weakness towards 90 can be used to buy with a stop at 90 for a target of 150 initially in the medium term.



GE Shipping 273.40

The scrip has potential of moving above 300 initially and above 300 it would confirm a major long term upmove.

In the short term, if it sustains above 257, then it could test 300.
For deliveries, the stop can be kept at 240.


Medium term Outlook of Nifty

On June 14, before Nifty had bottomed out, I suggested two bullish post correction scenario, in which, one being, Nifty could cross its all time high before the end of August 2006. By August end, Nifty tested a high of 3452. Now, my bullish view on Nifty continues to be same.


The pattern in Nifty suggests that it is likely to exceed its all time high of 3774 in two or three months atleast by few points before going in to corrective mode. So, I project a target of 3800 for Nifty in coming months.