TECHNICAL OUTLOOK, 10 MARCH

Nifty 4771.60

Short term
Nifty is likely to make a short term bottom in coming trading sessions around 4500-4600 level.


Extreme Short term
In the extreme short term, the level 4710 is crucial. If it sustains above this level, then it is likely to move towards 4950 initially. Instead, if the level is violated, then it is likely to decline towards 4600.


Intraday
Today, if Nifty sustains above 4710, then it could test 4875. Instead, if it fails to sustain above 4710, then it could test 4600.


Trading Strategy
Now the crucial level is 4710. Be long above this level and be short below this level.



Medium term outlook of Nifty dated on 23 January 2008
The medium term outlook of Nifty has turned bullish and it is likely to move towards a new all time high by this year end and this view holds good as long as Nifty stays above 4400.


Long term outlook of Nifty dated on 23 January 2008
The long term outlook of Nifty is looking bullish and it seems that Nifty is in the middle of this bull run. So, the bull run is likely to continue for another 4 to 5 years and this view holds good as long as Nifty stays above 4400.


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