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.



www.waveriders.in

asksathia@hotmail.com

9381203517