Nifty 3945.45
Short term trend in nifty would remain bullish as long as Nifty stays above 3915.
In the extreme short term, if Nifty fails to sustain above 3950, it likely to test 3920. If it sustains above 3950, then it is likely to test 4000.
Today, If Nifty sustains above 3950, it is likely to test 3970 and above 3970, it could test 4000.
Instead, if it trades below 3940, it could test 3920.
Mahindra &Mahindra 832.75
The short term trend is looking bullish and it has potential of testing 880 in coming trading sessions. Buy on decline with a stop at 820.
Long term investors can continue to hold this scrip with a stop at 740 for a target of 1100 in coming months.
DELIVERY CALL
Moser Baer 278.00
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 350 in coming weeks. Buy on decline with a stop at 245.
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.
