Nifty 3569.70
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 3540 level.
Today, if Nifty sustains above 3552, then it could test 3585 and above 3585, it could test 3600.
BPCL 392.90
The trend is looking bullish and it could see a sharp upmove towards 450 levels in coming trading sessions. Buy on decline with a stop at 380.
Century Textiles 508.05
The short term trend is looking bullish and it has potential of testing 550 initially in coming trading sessions. Buy with a stop at 495.
CESC 321.75
The short term trend is in bullish mode and it has potential of testing 350 in coming trading sessions. Buy on decline with a stop at 308.
DELIVERY CALLS
Alps Inds
The scrip is in long term bull market and it has good potential in the long run.
In short term, chart indicates a rally towards 100 in coming weeks. Buy with a stop at 55.
Chem fab alkalies 117.35
The scrip is in long term bull market and it has good potential in the long run.
In short term, chart indicates a rally towards 150 in coming weeks. Buy on decline with a stop at 100.
Mangalam Cement 203.10
The scrip is in long term bull market and it has good potential in the long run.
The short term trend is looking bullish and it has potential of testing 260 initially in coming weeks. Buy on decline with a stop at 170.
Medium term Outlook of Nifty
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. The correction in this type of market would be sharp and shallow and also corrections would be retraced immediately.
So, I project a target of 3800 for Nifty in coming months. This view holds good as long as Nifty stays above 3300. Also, as long as Nifty stays above 3200 level, the long term trend of the market would be bullish and it has good potential in the upside in coming years.
www.waveriders.in
