TECHNICAL OUTLOOK, 14 AUGUST

DAILY NEWSLETTER


D Sathia Moorthy


Nifty 4529.05




Short term Technical View of Nifty


The next minor correction is possible around 4800 level in coming trading sessions and it would be followed by rally towards 5000.


The level 4430 is the crucial level in the short term. If Nifty sustains above this level, then it is likely to move towards 4900-5000 by this month end.


If Nifty doesn’t go below 4430 here after, then the low of 3790 would be the medium term bottom. And also it implies a medium term rally in coming months.



Extreme Short term technical view of Nifty


In the extreme short term, the levels 4430 and 4600 are crucial. Break out of either levels is likely to be followed by a one sided move in the direction of the breakout.





Nifty Intraday trading levels

Today, if Nifty trades below 4550, then it could test 4430. Instead, if it moves above 4550, then it could test 4625.



Trading Strategy for Nifty

For intraday, the crucial level is 4500. Be long above this level and be short below this level.

For positional Trading the level 4430 is crucial. 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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