Nifty Technical Outlook, Positional & Intraday Trading Levels, 24 March 2014

Today, 6590 is the crucial intraday level for Nifty.

If Nifty sustains below 6590, then it could test 6570 and below that level it could test 6650.
Instead, if Nifty trades above 6590, then it could test 6650.

Short term Technical View of Nifty

For the short term, the level 6050 is crucial. If it sustains below this level, then it is likely to test 6350. Instead, if it trades above 6050, 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.