TECHNICAL OUTLOOK, 4 JULY

DAILY NEWSLETTER


Short tem outlook of Orchid chem


Nifty 3925.75


Short term



Nifty is likely to remain in between 4025 and 3900 for one or two trading sessions before moving above 4100.



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.


As long as Nifty sustains above this level, long term trend of the Market would be bullish and it is likely to exceed the high of 6350 in coming years.




Extreme Short term

In the extreme short term, the levels 3800 and 4100 are crucial.



Intraday

Today, if Nifty trades below 3900, then it could test 3850. Instead, if it trades 3900 then it could test 4025.




Trading Strategy

Now the crucial level is 3800. 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.




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