Nifty 4504.55
Nifty sustained above 4400 and thus negated the view of a correction from that level. Now Nifty is likely to move towards 4600 in coming trading sessions. And still a short term correction is possible in coming trading sessions and it would be followed by a rally towards 5000.
In the extreme short term, as long as it stays above 4480, the trend would be bullish and further upside towards 4550 is possible. Below this level, it could turn weak.
Today, if Nifty sustains above 4480, then it is likely to test 4540. Below 4480, it could test 4450.
Medium term outlook of Nifty - dated 13th July
Nifty is likely to make a significant top around 4400 level. If it sustains above 4400, then it is likely to move towards 4600
Long term outlook of Nifty - dated 29th June
Nifty is in long term bull market and after some downside, it is likely to move towards 5000 by this year end.
Trading Strategy
Remain long as long as it stays above 4440.
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