TECHNICAL OUTLOOK, 31 DEC

Nifty 6079.70

The view remains the same. In the short term, Nifty is likely to rally towards 6200 in coming trading sessions and above this level it could rally towards 6500 and this view holds good as long as it stays above 5950.

In the extreme short term, Nifty is likely to trade between 5950 and 6120 before moving towards 6200.

Today, if Nifty fails to move above 6095, then it is likely to decline towards 6000. Instead, if it moves above 6095, then it is likely to test 6120.




Trading Strategy

Now the crucial levels are 5950 and 6120.






IDBI 163.55

The long term outlook of this scrip is looking bullish.

The medium term outlook of this scrip is looking bullish and this view holds good as long as it stays above 140 and in the upper side it is likely to see a rally towards 300.

In the short term, if it sustains above 150, then it is likely to test 200 initially.

In the extreme short term, a move above 170 would confirm the target of 200 in coming trading sessions.




Ruchi Soya 150.50

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 300 in a short span of time and this view holds good as long as it stays above 115.

In the short term, if it sustains above 130, then it is likely to move towards 200.

In the extreme short term, if it sustains above 140, then it is likely to test 175 in coming trading sessions.





Visit us at:

www.waveriders.in
www.sathiamoorthy.blogspot.com

Contact:

9381203517
asksathia@hotmail.com
Yahoo Messenger Id - sathiamoorthyd@yahoo.com

TECHNICAL OUTLOOK, 24 DEC

Nifty 5766.50

In the short term, Nifty is likely to bounce back if Nifty holds above 5740 and it is likely to move towards 6050 in coming trading sessions and a move above 5840 would confirm the bottom. Instead, if it fails to hold above 5740, then it is likely to decline towards 5540.

In the extreme short term, the level 5850 is crucial. If Nifty trades above this level, then it could confirm a bottom.

Today, if Nifty trades above 5800, then it could test 5850 and above 5850 it could 5900. Instead, if it fails to move above 5740, then a decline to 5650 is likely.




Trading Strategy

Now the crucial level is 5850. Be long above this level and be short below this level.





Ashok Leyland 48.45

The long term outlook of this scrip is looking bullish.

In the medium term, the scrip is likely to see a sharp rally towards 150 in coming months and this view holds good as long as it stays above 42.

In the short term, the trend would remain bullish as long as it stays above 47 and it is likely to see a sharp rally towards 100 in coming weeks.

In the extreme short term, if it sustains above 47, it would rally from current levels. if not, it is likely to decline to 42 levels.




Great Offshore 845.15


The medium term outlook of this scrip is looking bullish and it is likely to test 1500 in coming months and this view holds good as long as it stays above 820.

In the short term, if it sustains above 820, then it is likely to move towards 1050 in coming weeks.

In the extreme short term, if it sustains above 820, then it is likely to rally towards 950 initially.





Visit us at:

www.waveriders.in

www.sathiamoorthy.blogspot.com



Contact:

9381203517

asksathia@hotmail.com

Yahoo Messenger Id - sathiamoorthyd@yahoo.com

TECHNICAL OUTLOOK, 17 DEC

Nifty 6047.70

In the short term, if Nifty trades below 5900, then correction is likely to terminate around 5780. Instead, if it fails to move below 5900, then correction is likely to terminate above 5900. And also, Correction would be followed by a rally towards 6500. If Nifty trades above 6120, then it would confirm the termination of correction.

In the extreme short term, the level 6120 is crucial in the upper side. In the downside, if it trades below 5950, then it could decline towards 5900.

Today, if Nifty trades below 6080, then it is likely to test 5950.



Trading Strategy

Now the crucial levels are 5900 and 6120 for the extreme short term.








Visit us at:

www.waveriders.in

www.sathiamoorthy.blogspot.com



Contact:

9381203517

asksathia@hotmail.com

Yahoo Messenger Id - sathiamoorthyd@yahoo.com

TECHNICAL OUTLOOK,10 DEC

Nifty 5974.30

In the short term, Nifty is likely to remain bullish as long as it stays above 5900 and it is likely to test 6200 initially and above this level, Nifty is likely to rally towards 6500.

In the extreme short term, the level 5900 is crucial. If Nifty holds above this level, then Nifty would remain bullish and it is likely to test 6200. Below 5900, it could test 5780.

Today, if Nifty trades above 6020, then it is likely to test 6060. Instead, if it trades below 5940, then it is likely to decline towards 5900.



Trading Strategy

Now the crucial level is 5900. Be long above this level and be short below this level.






NIIT Tech 244.40


The medium term outlook of this scrip is looking bullish and it is likely to test 400 in coming months and this view holds good as long as it stays above 200.

In the short term, if it sustains above 230, then it is likely to move towards 320 in coming weeks.

In the extreme short term, if it sustains above 238, then it is likely to move towards 260.





Visit us at:

www.waveriders.in



Contact:

9381203517

asksathia@hotmail.com

Yahoo Messenger Id - sathiamoorthyd@yahoo.com

TECHNICAL OUTLOOK, 3 DEC

Nifty 5762.75

In the short term, if it fails to sustain above 5700, then the correction is likely to extend below 5400. Instead, If Nifty trades above 5780, then it is likely to make a new high in coming trading sessions.

In the extreme short term, the levels 5700 and 5780 are crucial.

Today, if Nifty sustains above 5720, then it is likely to test 5780 and above 5780, it could test 5820. Instead, if it fails to move above 5780, then it is likely to test 5700.



Trading Strategy

Now the crucial level is 5700. Be long above this level and be short below this level.





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.




Visit us at:

www.waveriders.in




Contact:

9381203517

asksathia@hotmail.com

Yahoo Messenger Id - sathiamoorthyd@yahoo.com