Nifty 3571.05
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.
Failure of Nifty to sustain above 3540 would invite short term correction. Hold your longs with a stop 3540.
Today, if Nifty sustains above 3565, then it could test 3585, 3600 levels. Above 3600 further upside is possible.
ABB 2948.00
The trend is looking bullish and it could see a sharp upmove towards 3100 levels in coming trading sessions. Buy on decline with a stop at 2910.
DELIVERY CALLS
RPG Cables 37.30
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 60 in coming weeks. Buy on decline with a stop at 30.
Shrenuj & co 42.90
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 60 in coming weeks. Buy on decline with a stop at 37.
Mukand Eng 30.45
The scrip is in long term bull market and it has good potential in the long run.
The short-term trend is also looking bullish and it has potential of testing 42 initially in coming weeks. Buy on decline with a stop at 25.
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.
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