Today, 5815 is the crucial intraday level for Nifty.If Nifty sustains below 5815, then it could test 5760 and below that level it could test 5740.
Instead, if Nifty trades above 5815, then it could test 5860. Short term Technical View of Nifty
For the short term, the level 5550 is crucial. If it sustains below this level, then it is likely to test 5100. Instead, if it trades above 5550, then it is likely to test 5950.
Medium term outlook of Nifty dated on 30 July 2010
The medium term outlook of Nifty would remain bearish if it fails to sustain above 5550. Nifty is likely to see a medium correction from 5550 and it is likely to be in correction mode for another 1 year.
Long term outlook of Nifty dated on 30 July 2010
The long term outlook of Nifty is looking bearish and the present bull market from the low of 2003 is likely to terminate in 2010 around 5550 and it is likely to followed by 2 to 3 years bear market.
Reality, Power, and Infrastructure sector is likely to underperform the overall market. FMCG, Pharma, and Banking sectors are likely to perform better in coming years.
Markets may pull back till 5400 and surge again, be cautious with your longs and buy only when markets pull back. Markets have to break 4700 decisively in September itself, else NIFTY can reach 6536 in next 3 months before crash ensues
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