Nifty Technical Outlook, Positional & Intraday Trading Levels, 8 August 2014

Today, 7680 is the crucial intraday level for Nifty.

If Nifty sustains below 7680, then it could test 7600 and below that level it could test 7530.
Instead, if Nifty trades above 7680, then it could test 7710.

Short term Technical View of Nifty

For the short term, the level 7800 is crucial. If it sustains below this level, then it is likely to test 6700. Instead, if it trades above 7800, then it is likely to test 8000.

Medium term outlook of Nifty dated on 25 JUly 2014

The medium term outlook of Nifty would remain bullish if it sustains above 7800.Otherwise, Nifty is likely to see a medium correction from 7800.

Long term outlook of Nifty dated on 25 July 2014

The long term outlook of Nifty is looking bearish and the present bull market from the low of 4500 level is likely to terminate in 2014 around 7800 and it is likely to followed by 2 to 3 years bear market.