Nifty 3558.55
Short term trend in Nifty would remain bullish as long as it sustains above 3540 level. If it fails to sustain above 3540, then it could test 3500 and below this level further downside is possible.
Today, if Nifty sustains above 3540, it could test 3580 and above 3580, it could test 3600.
Instead, if it moves below 3540 and sustains below this level, then it could test 3500.
HDFC Bank 964.95
The short term trend is looking bullish and it has potential of testing 1020 in coming trading sessions. Buy on decline with a stop at 935.
DELIVERY CALLS
Heg ltd 142.55
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 190 in coming weeks. Buy on decline with a stop at 120.
Helios & Mat 168.20
The long term trend in this scrip is looking bullish.
In short term, it could test 220 levels in coming weeks. Buy on decline with a stop at 140.
Herren drugs 268.45
The long term trend in this scrip is looking bullish.
In short term, it could test 330 levels in coming weeks. Buy on decline with a stop at 235.
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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