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.
