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.
