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.




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