TECHNICAL OUTLOOK, 15 OCT

Nifty 5428.25

Nifty is likely to bounce back, if it fails to move below 5350. If it moves below 5350, then it could test 5250. Now the level 5250 is crucial for the short term movement of the market. As long as it stays above this level, Nifty is likely to test 5600 in coming trading sessions. Instead, if it fails to hold above 5250, then a decline to 5000 is likely.

In the extreme short term, if it sustains above 5350, then it is likely to remain bullish and it could test 5600 and a move above 5480 would confirm the target. Below 5350, it is likely to test 5250.

Today, if Nifty trades above 5400, then it is likely to test 5480. Below 5400, it could test 5350.



Trading Strategy

Now the level 5350 is crucial for the extreme short term movement. Be long above this level and be short below this level for a target of 5250.






Delivery Call

Mastek 364.05

The scrip is in long term bull trend. In the medium term, the trend is looking bullish and it is likely to test 500 in coming months. Buy on declines with a stop at 310.



Trading call

Siemens 1402.45

The long term outlook of this scrip is looking bullish.

The medium term outlook of this scrip is looking bullish and it is likely to test 2000 in coming months.

In the short term, if it sustains above 1300, then it is likely to move towards 1700.

In the extreme short term, as long as it stays above 1350, the trend would remain bullish and it is likely to test 1600 initially.




Medium term outlook of Nifty - dated 1st October

Nifty is likely to test 5250 level sharply and it will be followed by a consolidation between 5100 and 5600 for another 5 to 6 months. This view holds good as long as it stays above 4630. In case, if the level 4630 is violated, then a down move towards 4000 is possible for the medium term.


Long term outlook of Nifty - dated 1st October

Nifty is in long term bull market and after some consolidation between 5100 and 5600, it is likely to move towards 6000 in another 9 to 12 months. And this view holds good as long it stays above 4630. In case, if this level 4630 is violated, then after some downside it is likely to move towards 6000.





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