Nifty 5111.85
Short term
In the short term, if it sustains above 4980, then a rally is likely towards 5200-5250 level and it would be followed by a correction. Instead, if it fails to hold above 4980, then it has potential of testing 4850.
Extreme Short term
In the extreme short term, the level 5070 is crucial. If it sustains above this level, then Nifty is likely to test 5250 in coming trading sessions. Instead, if it fails to hold above 5070, then a decline to 4980 is likely.
Intraday
Today, if Nifty sustains above 5120, then it could test 5150 and above 5150, it could test 5200. Instead, if it fails to hold above 5120, then it could decline towards 5080.
Trading Strategy
Now the crucial level is 5080. 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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