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.
