Nifty - Technical Outlook and Intraday Trading Levels, 7 May

Today, 5055 is the crucial intraday level for Nifty.

If Nifty sustains below 5055, then it could test 5000 and below that level it could test 4950.
Instead, if Nifty trades above 5055, then it could test 5090.

Short term Technical View of Nifty

For the short term, the level 4950 is crucial. If it sustains below this level, then it is likely to test 4600. Instead, if it trades above 4950, then it is likely to test 5200.

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 5400. 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.