TECHNICAL OUTLOOK, 14 JULY

DAILY NEWSLETTER


D Sathia Moorthy


14 July, 2008


Nifty 4049.00


Short term Technical View of Nifty

Nifty is making a expanding pattern with higher bottoms and the last leg made a bottom of 3986. So, if that level is not violated, then short term trend would remain bullish, If it fails to hold above this region, then it has possibility of testing 3600 level.

The last crucial level for the Nifty is 3600-3775. As long as Nifty stays above this level, the long term and Medium term bull trend of the market would be intact.



Extreme Short term view of Nifty

In the extreme short term, the level 3900 is crucial. The trend is likely to remain bullish as long as it stays above this level.



Nifty Intraday trading levels

Today, if Nifty trades above 4100, then it could test 4180. Instead, if it trades below 4050, then it could test 3950.



Trading Strategy for Nifty

Now the crucial level is 4050. Be long above this level and be short below this level.




Medium term outlook of Nifty dated on 02 July 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 3600.



Long term outlook of Nifty dated on 02 July 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 3600.



Visit us at:http://www.waveriders.in/


Contact:

9381203517
asksathia@hotmail.com
Yahoo Messenger Id - sathiamoorthyd@yahoo.com