Nifty 4297.05
Nifty is in the process of making a significant top around 4350-4400 level. Hold your longs till this level is tested. Further up move is possible only if Nifty sustains above 4400. If it sustains above this level, then the rally is likely to continue with added momentum.
In the extreme short term, if it sustains above 4260, one more high around 4350-4400 is possible. If it fails to sustain above 4260, then it is likely to decline towards 4100.
Today, if Nifty sustains above 4280, then it is likely to test 4350. Instead, if it trades below 4260, then it is likely to test 4230.
Medium term outlook of Nifty
Nifty is likely to make a significant top around 4400 level. Further upside is possible only if Nifty sustains above this level.
Trading Strategy
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