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.





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