Nifty 3683.50
As previously mentioned, if Nifty sustains above 3665 level, then the trend would remain bullish and in the upper side, it could test 3700. And if Nifty sustains above 3700, then it is likely to move up further to test 3780-3800 levels in coming trading sessions.
Today, if Nifty sustains above 3665, then it could test 3700 and above 3700 it could test 3720.
Instead, if Nifty fails to sustain above 3665 level, then in the downside it could test 3640 and below this level it could test 3620.
Hero Honda 754.50
The short term trend is looking bullish and it has potential of testing 850 in coming trading sessions. Buy on decline with a stop at 725.
Long term investors can continue to hold this scrip with a stop at 650 for good upside potential in coming months.
DELIVERY CALLS
Diamond Cables 90.30
The scrip is in long term bull trend and it has good potential in the long run.
In short term, chart indicates a rally towards 130 in coming weeks. Buy on decline with a stop at 70.
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.
