Monday, June 25, 2007

TECHNICAL OUTLOOK, 25, JUNE



Nifty 4252.05

Nifty is in the last leg of the rally and the final upside leg is likely to peak out around previous high. One possibility is it likely to reverse direction from current levels. The other being, Nifty is likely to make a new high around 4350-4400 before turning down.

In the extreme short term, if it moves above 4260, then it is likely to test 4350-4400. Instead, if it trades below 4210, then it is likely to test 4100.

Today, if Nifty fails to sustain above 4260, then it is likely to test 4210. And below this level it could test 4180.



Medium term outlook of Nifty – dated 21st May


Nifty is likely to make a significant top around 4400 level. Further upside is possible only if Nifty sustains above this level.



Trading Strategy

Be short below 4210.




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Monday, June 18, 2007

TECHNICAL OUTLOOK, 18, JUNE



Nifty 4171.45

In the short term, further up move towards a new high is possible only if it trades above 4260. Until then, the short term trend would remain weak and in the downside it has potential of testing 4100 and below this level it could test 3900.

In the extreme short term, if it trades below 4145, it could test 4050.

Today, if Nifty fails to sustain above 4145, then it is likely to test 4090. Instead if it trades above 4190, then it is likely to test 4220.




Medium term outlook of Nifty – dated 21st May

Nifty is likely to make a significant top around 4400 level. Further upside is possible only if Nifty sustains above this level.




Trading Strategy

Be short below 4145.





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Monday, June 04, 2007

TECHNICAL OUTLOOK, 04, JUNE


Nifty 4297.05

Nifty is in the process of making a significant top around 4350-4400 level. Hold your longs till this level is tested. Further up move is possible only if Nifty sustains above 4400. If it sustains above this level, then the rally is likely to continue with added momentum.

In the extreme short term, if it sustains above 4260, one more high around 4350-4400 is possible. If it fails to sustain above 4260, then it is likely to decline towards 4100.

Today, if Nifty sustains above 4280, then it is likely to test 4350. Instead, if it trades below 4260, then it is likely to test 4230.



Medium term outlook of Nifty

Nifty is likely to make a significant top around 4400 level. Further upside is possible only if Nifty sustains above this level.

Trading Strategy

Be long above 4280 and short below this level.




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