Nifty 4007.40
Short term trend in Nifty is looking bullish, and it is likely to test 4070 initially in coming trading sessions. And this view holds good as long as Nifty sustains above 3920.
In the extreme short term, if Nifty sustains above 3985, is likely to test 4070. Instead, if it trades below 3985, it is likely to test 3950.
Today, if it sustains above 3985, it is likely to test 4030 and above 4030, it could test 4050.
Full contents of our Newsletter, including short term outlook of Nifty, short term trading calls, and delivery calls are available for paid subscribers. The charges are Rs 2500/- per month.
Medium term Outlook of Nifty (dated 01/11/2006)
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.
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