TECHNICAL OUTLOOK 26, MARCH

Nifty 3861.05


Short term trend in Nifty is looking bullish and in the upper side it could test 3950-4000 level in coming weeks. Only a close below 3760 level would negate the bullish view.

In the extreme short term, if Nifty sustains above 3830, it could test 3950.

Today, if Nifty sustains above 3835, it could test 3890 initially and above this level, it could test 3920.

In the medium term charts, the trend is looking bullish and it is likely to test 4500 in coming months and this view holds good as long as Nifty sustains above 3500. Long term Investors can remain invested with a stop at 3500.

Trading Strategy

Remain long with a stop at 3830. Short, below 3810 for a target of 3760.





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TECHNICAL OUTLOOK 19, MARCH

Nifty 3608.55


As long as Nifty sustains above 3550, the short term trend would remain bullish. On the upper side, if Nifty moves above 3720, it would confirm the termination of correction. Since Nifty failed to sustain above 3720, it has opened a possibility of Nifty going below 3550. If that is the case, then a final short term down leg is possible which has maximum downside potential of 3300. A sharp decline below 3550 in one or two trading sessions would indicate further decline. If Nifty fails to move below 3550, a sharp rebound is possible.


In the extreme short term, cross over of either 3550 or 3650 would decide the direction of the short term.

Today, cross over of either 3550 or 3650 would see a one sided move.



Trading Strategy

Remain short as long as Nifty sustains below 3660. Initiate longs above 3680.



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TECHNICAL OUTLOOK 5 MARCH

Nifty 3726.75


Nifty holding above the recent panic low of 3674 would indicate termination of correction. If Nifty violates 3674, then correction is likely to extend below 3650 towards 3550.

In the extreme short term, cross over of 3674 and 3765 would decide the direction of the trend.

Today, if Nifty sustains above 3674, then it is likely to rebound towards 3765. Instead, below 3674, Nifty is likely to see a final down leg.


The medium term trend in Nifty is looking bullish. Long term Investors can remain invested in the market with a stop at 3500.



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