Nifty Technical Outlook, Positional & Intraday Trading Levels, 17 January 2013

Today, 6020 is the crucial intraday level for Nifty.

If Nifty sustains below 6020, then it could test 5980 and below that level it could test 5905.
Instead, if Nifty trades above 6020 then it could test 6040.

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.