TECHNICAL OUTLOOK, 21 AUGUST

DAILY NEWSLETTER


D Sathia Moorthy



Nifty 4415.75


Short term Technical View of Nifty

The level 4420 is the crucial level in the short term. If Nifty sustains above this level, then it is likely to move towards 4800 and a move above 4500 would confirm the target.

Instead, if it fails to hold above 4420, then it could decline towards 4200 initially.



Extreme Short term technical view of Nifty

In the extreme short term, the level 4420 and 4380 are crucial. If Nifty trades above 4420, then it is likely to turn bullish and it could test 4500 initially.




Nifty Intraday trading levels

Today, if Nifty trades above 4375, then it could test 4420 and above this level it could test 4500. Instead, if it moves trades below 4375, then it could test 4300.



Trading Strategy for Nifty

For intraday, the crucial level is 4375. Trade 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 bullrun 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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