TECHNICAL OUTLOOK, 10 SEP

Nifty 4509.50

If Nifty sustains above 4530, then it is likely to move towards 5000 in coming months. Instead, if it fails to sustain above 4440, then a short term correction is likely.

In the extreme short term, as long as it sustains above 4440, the trend would remain bullish. Below this level, the trend would turn bearish.

Today, if Nifty fails to sustain above 4520, then it is likely to test 4440. Instead, if it moves above 4520, then it is likely to test 4570.



Trading Strategy

Now the crucial level is 4440. Be long above this level and be short below 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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