Nifty 3852.80
The short term trend in Nifty would remain bullish as long as it stays above 3810. In the extreme short term, if it fails to move above 3865, it is likely to decline towards 3820, from where it could bounce. If it stays above 3865, then it is likely to move further towards 3900.
Today, If Nifty sustains above 3865, then it is likely to test 3885. Below 3845, it could test 3820-3825 level.
Reliance Capital 559.40
The short term trend is looking bullish and it has potential of testing 585 initially in coming trading sessions and above 585, it could test 610. Buy on decline with a stop at 540.
Long term investors can continue to hold this scrip with a stop at 500 for a target of 700 in coming months.
DELIVERY CALL
Jindal Steel 2085.10
The scrip is in long term bull trend and it has good potential in the long run.
In medium term, chart indicates a rally towards 2700 in coming months. Buy on decline with a stop at 1800.
Medium term Outlook of Nifty (dated 01/11/2006)
The medium term trend in Nifty is looking bullish and it has potential of testing 4200 in coming months. And this view holds good as long as Nifty stays above 3600.
As the expected correction around 3800 level, is taking place as a running sideways correction, the present technical setup of Nifty suggests that there would be no major downside in the immediate future. And also if Nifty doesn’t violate 3600 level, we are likely to see a sharp up move towards the next medium term target in coming months.
Long term Investors can remain invested for the next medium term target of 4200 in coming months with a stop at 3600.
asksathia@hotmail.com
