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.
