Today, 5610 is the crucial intraday level for Nifty.
If Nifty sustains below 5610 then it could test 5550 and below that level it could test 5480.
Instead, if Nifty trades above 5610, then it could test 5690.
Instead, if Nifty trades above 5610, then it could test 5690.
Short term Technical View of Nifty
For the short term, the level 5700 is crucial. If it sustains below this level, then it is likely to test 5300. Instead, if it trades above 5700, then it is likely to test 5900.
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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