TECHNICAL OUTLOOK, 3 MARCH

Nifty 5223.50

Short term

In the short term, the level 5050 is crucial. If Nifty holds above this level, then a short term bottom would be confirmed at 4800. In the upper side, Nifty is likely to move towards 5800-6000 level sharply.

Extreme Short term

In the extreme short term, the level 5170 is crucial. If it sustains above this level, then it is likely to move towards 5400 initially.

Intraday

Today, if Nifty moves above 5250, then it could test 5325. Instead, if it fails to sustain above 5250, then it could decline towards 5170 and below this level, it could test 5050.


Trading Strategy

Now the crucial level is 5170. 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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