Monday, April 09, 2007

TECHNICAL OUTLOOK, 09, APRIL


Nifty 3752.00

It seems that Nifty has made a medium term bottom when it tested 3617. Unless, Nifty moves below this level, the view holds good. And also, if Nifty doesn’t go below 3675 here after, it will give confirmation to the above bullish view. Now, Nifty is likely to test 3950- 4000 level in coming trading sessions.

In the extreme short term, if it remains above 3675, the trend would be bullish and in the upper side it could test 3820 initially.

Today, if Nifty trades below 3770, it is likely to test 3700-3720 level. Instead, if it sustains above 3770, it is likely to test 3820.



Medium term outlook of Nifty
In the medium term charts, the trend is looking bullish and it is likely to test 4500 in coming months.

If Nifty doesn’t trade below 3620, then it is likely to move up towards 4200 initially. In case, if it trades below 3620, then it is has potential of testing 3300 in short term and even in this case, the medium term bullish outlook would remain intact.

Long term Investors can remain invested with a stop at 3620. In case, 3620 is violated, exit the holdings and re-enter around 3300.



Trading Strategy


Remain long with a stop at 3675.




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Monday, April 02, 2007

TECHNICAL OUTLOOK, 02, APRIL


Nifty 3821.55

Short term trend in Nifty would remain bullish as long as it sustains above 3720. On the upper side, a move above 3850 would confirm further upside targets towards 3950-4000 level.

In the extreme short term, if Nifty sustains above 3780, it could test 3950. Below 3780, it could test 3720.

Today, if Nifty sustains above 3780, it could test 3850 initially. If it trades above this level, then it could test 3890.



Medium term outlook of Nifty

In the medium term charts, the trend is looking bullish and it is likely to test 4500 in coming months.

If Nifty doesn’t trade below 3720, then it is likely to move up towards 4200 initially. In case, if it trades below 3720, then it is has potential of testing 3300 in short term and even in this case, the medium term bullish outlook would remain intact.

Long term Investors can remain invested with a stop at 3720. In case, 3720 is violated, exit the holdings and re-enter around 3300.



Trading Strategy

Remain long with a stop at 3780. Short, if trades below 3780 for a target of 3720.




Visit us at

www.waveriders.in



Contact


9381203517

asksathia@hotmail.com

Yahoo Messenger Id - sathiamoorthyd@yahoo.com