TECHNICAL OUTLOOK, 7 JULY

DAILY NEWSLETTER


Nifty 4016.00




Short term

A move above 4100 would impart short term bullishness in the market and it could test 4500 in the upside.



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 level 3970 is crucial. The trend is likely to remain bullish as long as it stays above this level.



Nifty Intraday levels

Today, if Nifty trades above 4030, then it could test 4110 and above this level, it is likely to test 4180. Instead, if it trades below 3970, then it could test 3900.




Trading Strategy

Now the crucial level is 3970. 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:
www.waveriders.in

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