D Sathia Moorthy
Nifty (spot) 4214.00
Short term Technical View of Nifty
Now, as long as the level 4150-4200 is not violated, the short term trend is likely to turn bullish and it is likely to rally from this level towards 4600 in coming trading sessions.
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 4150 is crucial. If Nifty sustains above this level, the trend would remain bullish.
Nifty Intraday trading levels
Today, if Nifty trades above 4240, then it could test 4280 and above this level, it could move towards 4350. Instead, if it fails to sustain above 4240, then it could test 4150.
Trading Strategy for Nifty
For intraday, the crucial level is 4240. Trade long above this level and be short below this level.
Positional traders can initiate longs on declines with a stop at 4150.
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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