TECHNICAL OUTLOOK, 21 APRIL

Nifty 4958.40

Short term
In the short term, if it sustains above 4920, then a rally is likely towards 5100-5150 level and it would be followed by a consolidation. Instead, if it fails to hold above 4920, then it has potential of testing 4820 in coming trading sessions.


Extreme Short term
In the extreme short term, the level 4920 is crucial. If it sustains above this level, then Nifty is likely to test 5100 in coming trading sessions.

Intraday
Today, if Nifty sustains above 4920, then it could test 5050 and above 5050, it could test 5100. Instead, if it fails to hold above 4920, then it could decline towards 4845.


Trading Strategy
Now the crucial level is 4920. 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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