TECHNICAL OUTLOOK, 13 AUGUST

Nifty 4333.35

If Nifty fails to move above 4400 and sustains below 4300, then it is likely to decline towards 4000 in coming weeks. Instead, if it moves above 4400, then the bottom would be confirmed at 4239.20 and in the upper side, it has potential of testing 4700 in coming weeks.

In the extreme short term, as long as it sustains above 4300, the trend would remain bullish and in the upper side it could test 4400. Instead, if it fails to sustain above 4300, then the trend is likely to turn bearish.

Today, if Nifty sustains above 4300, and moves above 4350, then it is likely to test 4400. Instead, if it moves below 4300, then it is likely to test 4250.


Trading Strategy

Now the crucial level is 4300. Be short below this level. Be long above this level.


Medium term outlook of Nifty - dated 23rd July

Nifty is likely to make a significant top around 4600 level. Instead, if it moves above 4600, then it is likely to move towards 5000 in coming weeks.


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.





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