DAILY NEWSLETTER
Nifty 4252.65
Short term
Nifty is in the process of bottom formation. Any bounce back from current levels should move above 4350, to confirm the bottom.
As long as Nifty stays above May 2006 high of 3750, the long term trend and medium term bull trend of the market would be intact.
Extreme Short term
In the extreme short term, the level 4190 and 4350 are crucial.
Intraday
Today, if Nifty trades above 4190, then it could test 4350. Instead, if it trades below 4190, then it could test 4000.
Trading Strategy
Now the crucial level is 4190. Be short below this level and be long above this level.
Medium term outlook of Nifty dated on 25 June 2008
The medium term outlook of Nifty has turned bullish and it is likely to move towards 5500 by this year end and this view holds good as long as Nifty stays above 3950.
Long term outlook of Nifty dated on 25 June 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 3950.
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