Today, 5085 is the crucial intraday level for Nifty.If Nifty sustains below 5085, then it could test 5050 and below that level it could test 5000.
Instead, if Nifty trades above 5085, then it could test 5150.
Instead, if Nifty trades above 5085, then it could test 5150.
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 4730. Instead, if it trades above 4950, then it is likely to test 5110.
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.
The Medium Term Outlook for Nifty looks Interesting !!! and honestly quite outrageous on the downside. With the present and next quarter Global and Euro scenario, Nifty sustaining above 5400 looks quite difficult but remotely possible. However, Nifty going to 2000 or below doesn't make any economic, P/E, fundamental or technical sense. Is this a Typo ??? Or you are confident of a complete Global and Indian economic system meltdown ???
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Sid
My Technical knowledge says it is possible by 2012.
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