TECHNICAL OUTLOOK,19 NOV

Nifty 5906.85

In the short term, if Nifty moves above 5950, then it is likely to make a new high around 6050. Instead, if it fails to move above 5950 and moves below 5780, then it is likely to see a short term correction.

In the extreme short term, the levels 5950 and 5810 are crucial.

Today, if Nifty sustains above 5950, then it is likely to test 6000. Instead, if it fails to move above 5950, then it is likely to test 5810.



Trading Strategy

The levels 5810 and 5950 are crucial. Be long above 5950.




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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