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.
