TECHNICAL OUTLOOK, 25, JUNE

Nifty 4252.05

Nifty is in the last leg of the rally and the final upside leg is likely to peak out around previous high. One possibility is it likely to reverse direction from current levels. The other being, Nifty is likely to make a new high around 4350-4400 before turning down.

In the extreme short term, if it moves above 4260, then it is likely to test 4350-4400. Instead, if it trades below 4210, then it is likely to test 4100.

Today, if Nifty fails to sustain above 4260, then it is likely to test 4210. And below this level it could test 4180.



Medium term outlook of Nifty – dated 21st May

Nifty is likely to make a significant top around 4400 level. Further upside is possible only if Nifty sustains above this level.



Trading Strategy

Be short below 4210.




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