Monday, January 21, 2008

TECHNICAL OUTLOOK, 21 JAN





Nifty 5705.30


Short term

In the short term, if Nifty fails to move below 5640, then it is likely to bounce back and it is a confirmation for the termination of the correction. Instead, if Nifty moves below 5640, then the correction is likely to terminate around 5400.


Extreme Short term

In the extreme short term, the level 5640 is crucial.

Intraday

Today, if Nifty fails to sustain above 5680, then it could test 5640. Instead, if it moves above 5740, then it could test 5820.


Trading Strategy

Now the crucial level is 5680. Be long above this level and be short below this level.




Medium term outlook of Nifty dated on 19 January 2008

The medium term outlook of Nifty is looking bullish and it seems unlikely for the Nifty to go below 5400 hereafter. And also, Nifty is likely to recover sharply and it is likely to move towards 7500 by this year end. In case, the level 5400 is violated, then a decline to 5000 is likely but still the upside target would remain same.



Long term outlook of Nifty dated on 19 January 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 5000.






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Monday, January 14, 2008

TECHNICAL OUTLOOK, 14 JAN

Nifty 6200.10


Short term

In the short term, Nifty is likely to rally towards 6500 in coming weeks and this view holds good as long as it stays above 6120. If the level 6120 is not violated, then it is likely to bounce from current levels and a move above 6250 would confirm the termination of the correction. Instead, if it fails to hold above 6120, then it could decline towards 5950-6000 levels.


Extreme Short term

In the extreme short term, the levels 6120 and 6250 are crucial.


Intraday

Today, if Nifty sustains above 6150, then it is likely to test 6250 and above 6250, it could test 6300. Instead, if it fails to hold above 6150, then it could decline to 6120 and below 6120, it could test 6080.



Trading Strategy

Now the crucial level is 6120. Be long above this level and be short below this level.




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Monday, January 07, 2008

TECHNICAL OUTLOOK, 07 JAN



Nifty 6274.30

In the short term, Nifty is likely to rally towards 6500 in coming weeks and this view holds good as long as it stays above 6120.

In the extreme short term, the level 6200 is crucial. Below 6200, it could test 6120.

Today, if Nifty sustains above 6230, and moves above 6280, then it is likely to test 6320. Instead, if it moves below 6200, then it is likely to test 6150.




Trading Strategy

Now the crucial level is 6200.









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