TECHNICAL OUTLOOK, 2, JUNE

Nifty 4870.10

Short term
It seems that Nifty has bottomed out and it is likely to rally towards 5200 level in coming trading sessions and this view holds good as long as it stays above 4800.


Extreme Short term
In the extreme short term, the levels 4800 and 4880 are crucial.


Intraday
Today, if Nifty trades above 4880, then it is likely to test 4950. Instead, if it fails to move above 4880, then it could test 4800.


Trading Strategy
Now the crucial level is 4880. 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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