Nifty 5932.40
In the short term, Nifty is likely to peak out with in the range of 6000 and 6100. If Nifty fails to hold above 5850, then it would confirm the correction and in the downside it is likely to test 5650 and below this level, it could test 5000. Instead, if it moves above 5950, then Nifty is likely to make a new high around 6100.
In the extreme short term, if it sustains below 5850, then it is likely to test 5650. Instead, if it sustains above 5950, then it is likely to test 6100.
Today, if Nifty sustains below 5950, then it is likely to test 6050. Instead, if it fails to move above 5950, then it is likely to test 5850.
Trading Strategy
The levels 5850 and 5950 are crucial. Be long above 5950 and be short below 5950.
CESC 587.05
The long term outlook of this scrip is looking bullish.
The medium term outlook of this scrip is bullish and it is likely to test 1000 in coming months and this view holds good as long as it stays above 500.
In the short term, if it sustains above 540, then it is likely to move towards 640 and above this level, it could test 750 in coming weeks. If it fails to move above 640, then it is likely to decline towards 540, and below this level it could test 500.
In the extreme short term, if it sustains above 575, then it is likely to test 640. Below 575, it could test 540.
Medium term outlook of Nifty - dated 1st October
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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