TECHNICAL OUTLOOK, 26 AUGUST

DAILY NEWSLETTER


D Sathia Moorthy


Nifty (spot) 4335.35




Short term Technical View of Nifty

Now, the level 4200 would be the crucial level in the short term. If Nifty sustains above this level, then it is likely to rally from this level towards 4600.

Instead, if it fails to hold above 4150-4200 level, then it could decline towards 4000 in coming trading sessions.


Extreme Short term technical view of Nifty

In the extreme short term, the level 4270 is crucial. If Nifty sustains above this level, the trend would remain bullish. Instead, if it trades below this level, then the trend would turn bearish in the extreme short term with downside potential to 4200.



Nifty Intraday trading levels

Today, if Nifty trades below 4270, then it could test 4200. Instead, if it trades above 4270, then it could test 4325 and above this level it could test 4375.



Trading Strategy for Nifty

For intraday, the crucial level is 4270. 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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