TECHNICAL OUTLOOK, SEP 2007

Nifty 4518.00

If Nifty sustains above 4555, then it is likely to move towards 5000 in coming months. Instead, if it fails to sustain above 4555, then a short term correction is likely and a move below 4440 would confirm further downside.

In the extreme short term, as long as it sustains below 4555, the trend would remain bearish. Above this level, the trend would turn bullish.

Today, if Nifty sustains above 4555, then it is likely to test 4590. Instead, if it fails to move above 4555, then it is likely to test 4480 and below this level, it could test 4440.



Trading Strategy

Now the crucial levels are 4555 and 4440. Be long above 4555 and short below 4555. Further, the expected short term correction would materialize only if it trades below 4440.



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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