Today, 6240 is the crucial intraday level for Nifty.
If Nifty sustains below 6240 , then it could test 6200 and below that level it could test 6130.
Instead, if Nifty trades above 6240, then it could test 6270.
Instead, if Nifty trades above 6240, then it could test 6270.
Short term Technical View of Nifty
For the short term, the level 6150 is crucial. If it sustains below this level, then it is likely to test 6350. Instead, if it trades above 6150, then it is likely to test 5700.
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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