TECHNICAL OUTLOOK, 17 MARCH

Nifty 4745.80

Short term
Nifty is likely to make a short term bottom between 4500 and 4600. And if this level is held, then nifty is likely to rally towards 5050 initially.


Extreme Short term
In the extreme short term, the level 4500 is crucial. If it sustains above this level, then it is likely to move towards 5050 and a move above 4750 would confirm the target.


Intraday
Today, if Nifty sustains above 4650, then it could test 4750. Instead, if it moves below 4650, then it could test 4550.


Trading Strategy
Now the crucial level is 4650. Be short below this level and be long above 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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