Today, 5380 is the crucial intraday level for Nifty.
If Nifty sustains below 5380, then it could test 5325 and below that level it could test 5290.
Instead, if Nifty trades above 5380 then it could test 5400.
Instead, if Nifty trades above 5380 then it could test 5400.
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 4700. Instead, if it trades above 5550, then it is likely to test 5930.
Medium term outlook of Nifty dated on 30 July 2010
The medium term outlook of Nifty would remain bullish if it sustains above 5550. Nifty is likely to see a medium correction from around 6350.
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 6350 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.
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