Nifty 4090.15
Nifty corrected up to 4058 and now, if it sustains above 4100, then it is likely to resume its uptrend towards 4200. If Nifty fails to sustain above 4100, then in the downside it could test 4020. And as long as Nifty remains above 3980, the short term trend would remain bullish.
In the extreme short term, if Nifty sustains above 4100, it is likely to test 4200.
Today, if Nifty sustains above 4100, it is likely to test 4120 and above this level, it could test 4145. Instead, if it moves below 4080, then it could test 4055 and below this level it could test 4020.
Now the broad stop loss for the longs is 3980.
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)
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.
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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