TECHNICAL OUTLOOK, 5 MAY

Nifty 5228.20

Short term
As long as Nifty trades above 5140, the trend would remain bullish and if it sustains above 5250, then it is likely to test 5350-5400 level in coming trading sessions.


Extreme Short term
In the extreme short term, the level 5190 is crucial. If it sustains above this level, then Nifty is likely to test 5350.


Intraday
Today, if Nifty moves above 5240, then it could test 5300. Instead, if it fails to move above 5240, then it could decline towards 5190.


Trading Strategy
Now the crucial level is 5240. 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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