Nifty Intraday levels and range
Today, if Nifty sustains below 5125, then it could test 5080 and below that level it could test 5010.
Instead, if Nifty trades above 5125, then it could test 5170.
For Intraday, the crucial level is 5125.
Short term Technical View of Nifty
Nifty is likely to form a lower top around 5180 and a correction towards 4500 by this month end is likely. Instead, if 5180 is broken, then it could move towards 5300-5350 levels.
Nifty is likely to form a lower top below 5182. If the level, 5180 is broken, then it could move towards 5300-5350 region.
Medium term outlook of Nifty dated on 20 May 2009
The medium term outlook of Nifty would remain bearish if it fails to sustain above 5200. Nifty is likely to bottom out in the medium term at 2000-2200 levels in coming months and if it fails to sustain above this level, then it is likely to decline below 2000 levels.
Long term outlook of Nifty dated on 30 June 2009
The long term outlook of Nifty is looking bearish and it seems that Nifty is likely to bottom out in 3 years.
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